Interest rates up another 0.5% (Sunday Times)

Story date: 2007-10-11 05:24:36
Added on: 2007-10-11 21:00:04

Big four banks have raised prime overdraft rate for home and other loans to 14percent. Households are not tightening their belts enough, according to the Reserve Bank’s Monetary Policy Committee, which voted yesterday for its seventh 0.5percentage point interest rate increase within two years.


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