said that was probably enough<\/a>.<\/p>\nBut it also signalled cuts would not come until the third quarter of next year.<\/p>\n
It has been a record busy month for those behind the phone line at MoneyTalks, a free national budgeting advice service. Team lead Angela Smart said they have already answered 2000 calls, a whopping 30 percent jump on last month.<\/p>\n
“This is a bigger call increase than when the cyclone happened in February,” she said.<\/p>\n
“This is now becoming a bit of a perfect storm of the fallout of that, plus cost of living plus OCR.”<\/p>\n
Smart said more people were calling in financial distress.<\/p>\n
“They just say they don’t know where to go next. That is the biggest issue, is they say, ‘Yes, I’ve got debt, I feel overwhelmed, what do I do from here?’<\/p>\n
“That’s when we look at finding the right financial mentor, the right budgeting service that is going to work with them to step in between and have those negotiations with creditors.”<\/p>\n
<\/p>\n
SOURCE RNZ<\/p>\n","protected":false},"excerpt":{"rendered":"
Homeowners feeling the pinch are being warned they are only halfway through the ripple effect on mortgage rates, with the Official Cash Rate (OCR) now at its peak. But one economist says with falling interest rates will likely come growing unemployment and slower wage increases. The Reserve Bank on Wednesday raised its benchmark rate by […]<\/p>\n","protected":false},"author":6,"featured_media":4846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[222,174],"tags":[],"class_list":["post-4845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-nz-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/4845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4845"}],"version-history":[{"count":1,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/4845\/revisions"}],"predecessor-version":[{"id":4847,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/4845\/revisions\/4847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/media\/4846"}],"wp:attachment":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}