ANZ Bank expects OCR at 3.5% by August 2025

Sharon Zollner, ANZ's chief economist. (Image: NZME)

Thu, 18 Jan 2024

ANZ Bank now expects the Reserve Bank of New Zealand to kick off a series of rate cuts in August that will see the official cash rate at 3.5% in 12 months, down from the current 5.5%.“On our current forecasts, by the September quarter, inflation is back in the band, unemployment has cracked the 5% market and is still rising, and the output gap is deeply negative,” ANZ's chief economist, Sharon Zollner, said. “With this economic data in the rear-view mirror, the risk of seeing inflation run away again would be much sma...

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