NZ interest rates plunge as Brexit gets closer to reality

Fri, 24 Jun 2016

By Paul McBeth June 24 (BusinessDesk) - New Zealand swap rates plunged as news of the likely victory for Brexit in the UK's referendum on whether to leave the European Union rippled through global financial markets and sent investors fleeing for safe havens. "We'll be pricing a sub-2 percent OCR (official cash rate) for sure - this might well be enough to tip the Reserve Bank's hand come August," said Imre Speizer, senior market strategist at Westpac Banking Corp. "We don't know how messy this could get - it's not so much the direct i...

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