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"People just need to hang in a little longer": OCR likely to remain unchanged

Author
Newstalk ZB,
Publish Date
Wed, 10 Jul 2024, 8:34am
Photo / 123RF
Photo / 123RF

"People just need to hang in a little longer": OCR likely to remain unchanged

Author
Newstalk ZB,
Publish Date
Wed, 10 Jul 2024, 8:34am

There are expectations the Reserve Bank will leave the OCR untouched once again. 

The Official Cash Rate's been held at 5.5% the last six times in a row. 

Many bank economists believe it'll be held again while the Reserve Bank waits for more evidence inflation's falling back towards its target band of one to three percent. 

ASB Chief Economist Nick Tuffley told Andrew Dickens they think there are some encouraging signs that inflation will fall and be back within the target band fairly soon. 

He said that people just need to hang in a little longer. 

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