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Mortgage rates aren't looking to drop any time soon

Publish Date
Thu, 6 Jun 2024, 7:50pm
Benefits and the minimum wage will increase on April 1, while new changes are coming for EV drivers and those with trusts. Photo / 123rf
Benefits and the minimum wage will increase on April 1, while new changes are coming for EV drivers and those with trusts. Photo / 123rf

Mortgage rates aren't looking to drop any time soon

Publish Date
Thu, 6 Jun 2024, 7:50pm

Infometrics predict the official cash rate (OCR) won’t move until February next year - rather than this November. 

Non-tradeable inflation (inflation that is domestic and not influenced by international factors) has caused issues for the Reserve Bank – say business commentators.  

It makes up almost 60% of the consumer price index (CPI), which the Reserve Bank is trying to reduce. 

Infometrics Principal Economist Brad Olsen told Jack Tame “We kept looking out at the economy and we can’t support our previous view.” 

Olsen says “You’re not going to use monetary policy to get local government rates under control, or insurance premiums.” 

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