Reserve Bank lifts interest rate

Last updated 09:01 24/04/2014

Relevant offers

Homeowners will need to dig deeper into their pockets after the Reserve Bank lifted the official cash rate this morning.

The central bank raised its official cash rate (OCR) - on which floating and very short term bank mortgage rates are based - to 3 per cent this morning.

The move up from 2.75 per cent was widely expected by economists as the economy continues to gather strength.

Lower than expected inflation data released earlier this week has prompted debate about when the next Reserve Bank hike will happen. Bets had been on a June move but some economists now say the bank can pause until July.

Ad Feedback

- Stuff

Comments

Special offers
Opinion poll

If your house was on fire, would you risk your own life to save your pet?

Yes

No

Vote Result

Related story: Pair risk lives to save cat

Featured Promotions

Sponsored Content

Social Media
The Southland Times on Facebook

Subscribe to a digital replica of The Southland Times.

Digital edition

Subscribe to a digital replica of The Southland Times.

Click here to read our free community newspapers from around the region.

Community newspapers

Click here to read our free community newspapers from around the region online.

Southland Times subscriber news and information.

Subscriber services

Southland Times subscriber news and information.

Click here for information about advertising with The Southland Times.

Advertise

Click here for information about advertising with The Southland Times.