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RESERVE BANK CASH RATE DECISION LEAVES NO RESPITE FOR BORROWERS.
(From New Zealand Press Association)
Wellington, July 29 NZPA - Home owners could be waiting until next year for any sign of interest rate relief after Reserve Bank (RB) Governor Alan Bollard again left the official cash rate unchanged at 6.75 percent yesterday.
And once again, it was stubbornly robust growth in property prices staying the central bank's hand.
``The housing market is still their main bugbear,'' Westpac chief economist Brendan O'Donovan said.
In a toughly worded statement, Dr Bollard said that with inflation predicted to exceed the RB's 1-3 percent target band in the coming quarters there was ``no prospect of policy easing …
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