The Reserve Bank kept the official cash rate on hold at 1 per cent on Wednesday, surprising the market, which had been expecting a cut. But around half of that rates rebound has occurred in response to the Reserve Bank's official cash rate decision." "Crucially, a lot of mortgage rate re-fixing will be happening in coming months. ROSA WOODS/STUFF The Reserve Bank surprised the market by keeping the official cash rate on hold. Cameron Bagrie, of Bagrie Economics said the increase in wholesale rates would make it hard for banks to sustain two-year rates as low as they currently are.

Source: Stuff November 13, 2019 16:00 UTC