Official Cash Rate Plummets

What could this mean for non investors?

After the official cash rate dropped to its lowest level yet last week, an economist says if it dips into the negatives it could put more pressure on New Zealand’s housing crisis.

Economist Oliver Hartwich’s analysis comes after the Reserve Bank on Wednesday dropped the OCR, which is the rate of interest which the central bank charges on overnight loans to commercial banks, by 0.5 percentage points to one per cent – a new record low.

Economists have since been pondering the idea of it dropping into the negatives.

Veiw source article here

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