MARKET SHAKE UP
Aug 29, 2019
4 minutes
Talk about making waves! The Reserve Bank sent shockwaves through the country in August when it slashed the OCR by 50 basis points to take it to an all-time low of 1.0%. The move, which Westpac chief economist Dominick Stephens described as “stunning”, sent financial commentators into overdrive.
The focus of most of the commentary has been on what the cut means for the economy, both now and going forward, but it’s agreed the goal of the cut is to jumpstart spending and growth. Banks started to drop their interest rates immediately, with all the major banks announcing cuts to their home loan rates.
This has left many in the property world speculating on just what it might mean for the
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