Buying guide
What is the Official Cash Rate (OCR)?
These three little letters are kind of a big deal
AI summary
The Official Cash Rate (OCR) is the main tool the Reserve Bank of New Zealand (RBNZ) uses to keep inflation between 1-3%. It's the interest rate at which the RBNZ lends to commercial banks.
Changes to the OCR directly influence the interest rates banks offer on mortgages, loans, and savings accounts. A higher OCR makes borrowing more expensive to cool the economy, while a lower OCR stimulates spending. Homeowners can manage rate changes through interest rate averaging.
What is the OCR?
First, what exactly is the Reserve Bank?
What is the OCR?
Jeanette Thomas explains the OCR
The OCR is a tool for controlling inflation
The OCR influences the supply of money in the economy.
The problem with the OCR
All debt is affected by the OCR.
How mortgage holders can protect themselves against OCR increases
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