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OCR change unlikely with inflation not yet under control

Author
Newstalk ZB,
Publish Date
Wed, 22 May 2024, 9:48am
Photo / 123RF
Photo / 123RF

OCR change unlikely with inflation not yet under control

Author
Newstalk ZB,
Publish Date
Wed, 22 May 2024, 9:48am

The OCR is expected to remain steady. 

It’s expected to remain unchanged at 5.5% when the bank releases its quarterly Monetary Policy Statement this afternoon. 

It's signalled a rate cut may not come for another year.  

Infometrics' Brad Olsen says the central bank is having to focus on inflation, over other negative economic indicators like rising unemployment. 

He told Mike Hosking that he’d be very surprised if they decided to move it. 

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