andrea z @ flickr

Wasn’t it interesting that a week or so ago both the Prime Minister, Mr John Key and the Governor of the Reserve Bank, Mr Alan Bollard independently stated that they thought the worst of the recession was over. Perhaps we have had the major earthquake, and may yet still experience some after shocks. Staggering when months ago they were talking Armageddon and Great Depression.

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Image: Bloomberg News/Landov

The Reserve Bank of New Zealand has just decided not to alter the Official Cash Rate. If you are borrowing right now it is unlikely you will see further big interest rate reductions, so while you can get money at 5.4% the banks are suggesting you fix that rate for the short to medium term.

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