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But borrowers would be wise to keep their enthusiasm in check. The interest rates they pay might not fall in line with Official Cash Rate (OCR) cuts, nor by as much as optimists would expect.

BNZ said it would pass the full OCR cut on to variable home loan rates. It had already cut its six-month fixed home loan rate to 5.99 percent last week. BNZ spokesperson Karna Luke said although the ...

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