The OCR & How It Works

February saw a fair bit of talk around the OCR (Official Cash Rate) with an announcement to hold the rate at 1% again this month.

Whenever the OCR is announced there's lots of financial jargon thrown around with it.

Luckily the Focus team has many years of wisdom when it comes to bank jargon, however we thought you might appreciate a little insight into the OCR for yourself.

This video by the Reserve Bank helps to explain what the OCR is, how it works and how it affects you as borrowers.

 

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