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OCR cut leaves mortgage holders better off while others suffer

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Manage episode 512498350 series 3600198
Content provided by RNZ. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by RNZ or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Reaction to the Reserve Bank's 50 basis point cut to the OCR has been mixed, dependent on people's age and stage. Assuming the reduction is passed on in full, minimum repayments for a family with a 25-year, $500,000 mortgage will be more than $400 less a fortnight than they were in the middle of last year. But for people who are on a fixed income and relying on savings, like retirees, it's an effective pay cut. Infometrics chief forecaster Gareth Kiernan spoke to Lisa Owen.
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1687 episodes

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iconShare
 
Manage episode 512498350 series 3600198
Content provided by RNZ. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by RNZ or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Reaction to the Reserve Bank's 50 basis point cut to the OCR has been mixed, dependent on people's age and stage. Assuming the reduction is passed on in full, minimum repayments for a family with a 25-year, $500,000 mortgage will be more than $400 less a fortnight than they were in the middle of last year. But for people who are on a fixed income and relying on savings, like retirees, it's an effective pay cut. Infometrics chief forecaster Gareth Kiernan spoke to Lisa Owen.
  continue reading

1687 episodes

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