RBNZ disappointed with bank inaction post-OCR cut
13th May 09, 12:46pm
by
Bernard Hickey reports on the Reserve Bank's Financial Stability Report press conference, where deputy governor Grant Spencer said he was was disappointed that the Reserve Bank's 50 basis point cut in the Official Cash Rate on April 30 has not been passed on in the form of lower variable mortgage rates. The Reserve Bank also warned banks about lending too much and too fast to the farming and commercial property sectors.
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