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OCR cut good news for mortgage holders.

Section
Audio,
Publish Date
Wednesday, 7 August 2019, 6:31PM
Reserve Bank cuts OCR to record lows (Photo: NZ Herald)

A financial advisor says the OCR cut is good news for mortgage holders, bad news for those with term deposits

 

The Reserve Bank was widely expected to cut the OCR today from 1.5% to a record low of 1.25%. 

 

In fact they made a 0.5% cut.

 

Tim Fairbrother, owner of Rival Wealth, told Simon and Phil a lot of people will be surprised by the move.

 

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