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OCR Confirmation Of Reservation Or Order

OCR Confirmation Of Reservation Or Order

Aug 6th, 2022

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How to OCR Confirmation Of Reservation Or Order

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The Reserve Bank sets the Official Cash Rate (OCR) every six weeks, equating to seven times a year. The OCR influences interest rates for borrowing and savings, impacting consumer price inflation and overall economic activity. The Bank aims for price stability; higher rates can curb excessive borrowing and spending during an economic boom, while lower rates can stimulate borrowing and investment when the economy is sluggish. The Reserve Bank announces the OCR at 9 am, prompting immediate reactions from financial markets. The OCR also determines the overnight rate, influencing broader economic conditions.

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