Business owners are expected to be worse affected by the lift in the Official Cash Rate .. . than home owners
Business owners are expected to be worse affected by the lift in the Official Cash Rate .. . than home owners
6 October 2021
The Reserve Bank has raised the rate to half a percent, and banks have quickly increased floating interest rates.
Loan Market mortgage adviser, Craig Pettit, says the vast majority of Kiwi home owners have their mortgages on a fixed rate.
He says it's going to affect business owners more because a lot of trade finance is based on a variable rate.
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