OCR stays at 1%

This week the Reserve Bank announced that the OCR will remain at 1%.

Low interest rates remain necessary to keep employment and inflation around target.

The next OCR decision will depend on what will happen to inflation, employment, business confidence, consumer spending, and the general outlook for the economy.

Meanwhile the banks are offering interest rate specials:

  • Westpac 3.39% one year rate special
  • ANZ has a 3.45% one year rate special
  • BNZ has a 3.39% 18 month special

The next OCR decision is in March 25 2020.

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