ANZ says 'so far so good' on inflation, picks no change to OCR

ANZ's conviction that further hikes would be needed has dropped below 50%. (Image: Getty)

Fri, 17 Nov 2023

The ANZ is no longer forecasting more hikes in the official cash rate but expects the Reserve Bank to be slower to cut rates.In a Nov 17 report, it said the Reserve Bank of NZ (RBNZ) was likely to hold the official cash rate (OCR) at 5.5% at its Nov 29 monetary policy review.ANZ also pushed out its expectation for any rate cuts by one quarter to February 2025, and maintained its August figure of a 5.59% peak rate forecast.Overall, ANZ sees progress to rein in inflation as “so far so good”, and it didn’t ex...

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