Falling interest rates could give consumers a much-needed kick of confidence
Falling interest rates could give consumers a much-needed kick of confidence
7 July 2022
BNZ and Westpac are following ANZ in cutting mortgage rates, following the recent drop in the cost of wholesale funding.
That's despite a possible rise in the Official Cash Rate next Wednesday.
NZIER Principal Economist Christina Leung says it's a positive sign for consumers anxious about rising interest rates and living costs.
She says that should help address the record low consumer confidence levels recorded in recent months.
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