Last OCR review for 2013 to keep rate at 2.5 percent , link timing of moves to exchange rate, housing

Sun, 08 Dec 2013

Dec. 9 (BusinessDesk) – Reserve Bank governor Graeme Wheeler is expected to leave the official cash rate unchanged in his final review of 2013, while giving financial markets little reason to change their view that the tightening cycle will start in the first quarter. By March the OCR is expected to be at 2.75 percent, rising to 3 percent in the June quarter and to 3.5 percent by the end of 2014, according to a Reuters survey. In the RBNZ’s last six-weekly review, on Oct. 31, Wheeler said OCR increases “will likely be required next year,” w...

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