Interest rate cuts could be on horizon - 2004-01-14
The Reserve Bank has room to maintain or even cut interest rates if the rising Kiwi dollar shows signs of affecting the economy more severely than expected, the Treasury says.
Financial market dealers have noted a flattening in the wholesale yield curve, the difference between short and long-term money market interest rates. Indicator 90-day bank bills, a key ingredient in banks' mortgage lending costs, have fallen below 5.3 per cent from nearly 5.5 per cent a month ago.
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