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

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)
Staff reporters
 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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