Mark Wilkshire: Co-operative Bank CEO on the impact of the OCR hike on home loan rates

Banks aren't expected to increase fixed rates after the latest OCR hike.  The Reserve Bank raised the Official Cash Rate another 25 basis points yesterday, bringing it to 2.75%.  Governor Anna Breman says they are moving it towards a neutral level of around 3%.  Co-operative Bank CEO Mark Wilkshire told Ryan Bridge the hike was largely expected, so those rates were already built in.  He says the increase will be passed through to variable home loans quite quickly, but they're not expecting to see fixed rates rise.  LISTEN ABOVE  See omnystudio.com/listener for privacy information.