Steve Jurkovich: Kiwibank chief executive says they expect to see further hikes to Official Cash Rate

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Recorded30 May 2022

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Banks are preparing for further hikes following last week's Official Cash Rate increase.The Reserve Bank raised the OCR by 50 basis points to 2 per cent and signalled it'll go higher still.ANZ and Kiwibank have both increased mortgage and deposit rates in the wake of the hike, Kiwibank lifting its headline rate for a two-year fixed mortgage to 5.19 per cent.Kiwibank chief executive Steve Jurkovich told Mike Hosking they're expecting more to come. He says the Reserve Bank has signalled four per cent, which sees another two 50 point hikes in July and August by their predictions. LISTEN ABOVESee omnystudio.com/listener for privacy information.

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