People with mortgages shouldn't expect interest rates to drop below zero, even if the Official Cash Rate does
People with mortgages shouldn't expect interest rates to drop below zero, even if the Official Cash Rate does
29 April 2020
Westpac's predicting the Reserve Bank will slash the OCR in November by 75 basis points to minus 0.5 percent.
Herald business-editor-at-large, Liam Dann, says it could bring mortgages down.
But he says rates won't go into reverse - because borrowing costs are rising, due to the risks in the world.
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