Falling interest rates should affect the economy faster than in previous easing cycles, assistant Reserve Bank governor Karen Silk told parliament's finance and expenditure committee. [READ ON]
The five largest banks all rushed to cut their mortgage interest rates after the Reserve Bank cut its official cash rate (OCR) for the first time since March 2020. [See here]
| « BREAKING: OCR reduced by 25 basis points to 5.25% | Terms of reference for the Banking inquiry laid out » |
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