Finsec protests reluctance of banks to cut credit card rates despite OCR drop

Finsec Campaigns Director Andrew Campbell has told Radio New Zealand's Morning Report that banks should be questioned over their reluctance to cut credit card rates from their current 20.2% average despite a drop in the Official Cash Rate from 8.25% to 6.5% so far this year. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.