Cash Rate Kept On Hold

The Reserve Bank today left the Official Cash Rate unchanged at 3.5 percent. The statement noted that the rate of increase in house prices had continued to ease despite the recent increases in immigration numbers.

The Bank confirmed it was intending to wait before implementing any further OCR rises to assess the impact of the 4 previous hikes.

@ Commercial Property Auctions yesterday a 2 level barn like structure in Ponsonby without parking, or vehicle access, sold for $830,000.