Whoopsy, I thought it was tax cuts that would raise interest rates.

[Imported from Whale Oil Beef Hooked on Blogger]

Looks like Mortgage interest rates on on the move….upwards.

And here was I thinking that only tax cuts would cause this to happen…oh silly me.

ANZ Bank economists said yesterday they expected the Reserve Bank to lift official interest rates from 6.75 per cent to 7 per cent on October 27, with a “material risk” of another move in December.

The Reserve Bank has been warning of higher interest rates for most of the year but has not moved rates up.

“Now there is almost no escaping what they need to do,” ANZ National Bank chief economist John McDermott said.

 


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