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December rate hike unlikely - economists

The Reserve Bank is unlikely to raise interest rates again next month, though wages are expected to keep rising and unemployment may drop below 4 per cent, economists say.

Tuesday, November 09th 2004

Statistics New Zealand figures issued today showed wages steadied in the September quarter, as did demand for labour.

The labour cost index rose 0.6 per cent in the September quarter and 2.2 per cent for the year, in line with expectations but close to recent highs.

The quarterly employment survey showed private company ordinary time hourly earnings fell 0.2 per cent in the same quarter, taking the annual growth to 3.3 per cent, lower than expected.

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Top Mortgage Rates

Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.35
TSB Special 4.39
Co-operative Bank - Owner Occ 4.45
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
Co-operative Bank - Owner Occ 4.49
Kainga Ora 4.49
BNZ - Std 4.49
Kiwibank Special 4.49
SBS Bank Special 4.49
AIA - Go Home Loans 4.49
Wairarapa Building Society 4.59
Nelson Building Society 4.59
ICBC 4.99
BNZ - Std 4.99
SBS Bank Special 4.99
Kainga Ora 5.15
ASB Bank 5.15
AIA - Go Home Loans 5.15
Co-operative Bank - Owner Occ 5.19
Westpac Special 5.29
TSB Special 5.39
Kiwibank Special 5.39
ANZ 5.39
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 3.95
Co-operative Bank - Owner Occ 4.99
Co-operative Bank - Standard 4.99
Heartland Bank - Online 5.30
ICBC 5.39
Kiwibank - Offset 5.65
Kiwibank 5.65
ANZ 5.69

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