4:29 pm today
Short-term home loan rates are likely to feel the most immediate impact of the Reserve Bank's move on Wednesday to keep the official cash rate on hold, but push up its forecast of increases.
The bank kept the rate on hold at 2.25 percent but it was a split decision, with three of the committee members voting for an increase. Governor Anna Breman cast the deciding vote to leave the rate unchanged.
The committee said it now expects the official cash rate to lift more quickly than previously expected, to an eventual high of 3.28 percent.
ASB senior economist Chris Tennent-Brown said it was in line with what bank economists had expected.
