Floating rates may go even higher

Following on from his blatant comments when he raised the cash rate to 7% less than a fortnight ago, Bollard took aim at the housing market and Kiwi spenders as the main driver of demand and ingredient in inflation pressures. He is hammering home his message, but it may take floating rates to be a bit higher in the 9% range before the appetite for borrowing and spending is somewhat subdued....