Reserve Bank unlikely to cut OCR next month, line-ball on cut this year, Westpac says

Thu, 28 May 2015

By Anna Lu May 28 (BusinessDesk) - The Reserve Bank isn't likely to cut the official cash rate at its review on June 11 and may not see scope to cut rates this year as it walks a tightrope between trying to nudge inflation back up within its target band and keeping Auckland's housing market under control, economists at Westpac Banking Corp say. The RBNZ will definitely be taking a wait-and-see approach in June, said Dominick Stephens, chief economist at Westpac. The two conditions for an OCR reduction - weakening inflation and cooling dom...

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