19 Jul 2021

Why interest rates are rising while the OCR is on hold

From Afternoons with Jesse Mulligan, 1:24 pm on 19 July 2021

Last week was a big one for economists.

ASB was the first of the four major banks to raise their fixed mortgage rates, with the others quickly following suit.

The increases came the same week as inflation data was released - showing the cost of essentials rising by 3.3% - the biggest lift in 10 years.

So what does it all mean? Bernard Hickey - columnist and host of the Spinoff podcast 'When the Facts Change' talks to Jesse about what's going on.

A man with a calculator inspects a line of houses stacked on top of gold coins.

Photo: 123RF