Mortgage Rates Stable Until The End of 2003
Homeowners can look forward to stable mortgage rates through to the end of next year, according to Reserve Bank forecasts.
Thursday, November 21st 2002, 8:40AM
by The Landlord
As expected the central bank left its Official Cash Rate (OCR) unchanged at 5.75% and it says that its sense of the risks for the future are evenly balanced.
Releasing his first Monetary Policy Statement, governor Alan Bollard says the current OCR setting is consistent with his target of keeping inflation to between 1% and 3% on average over the medium term.
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