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Vittoria Shortt: ASB CEO on the impact of the high interest rates and the OCR remaining at 5.5%

Published: Feb. 28, 2024, 9:07 p.m.

Interest rates may not be going up or down much any time soon.\xa0

The Reserve Bank is keeping the Official Cash Rate unchanged at 5.5%, in line with most economists' expectations.\xa0

Vittoria Shortt, ASB\u2019s CEO, told Mike Hosking that both personal customers and businesses are coping with the higher rates, but are making big sacrifices to do so.\xa0

She said that across the board, their business clients are doing well but not without making trade-offs or sacrifices.\xa0

Some industries, Shortt said, are experiencing more stress, some are coming out of that stress, and some that are really keen to grow.\xa0

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