The first OCR rise in seven years could be on hold as Covid case forces a re-think. Photo / Getty ImagesThe first OCR rise in seven years could be on hold as Covid case forces a re-think. The Kiwi dollar fell sharply this afternoon as odds on a rate hike shifted. The markets had been expecting a rate hike from the Reserve Bank at tomorrow's (2pm) monetary policy statement. "The market was positioned for the big monetary policy statement, which was going to hike rates," said Westpac senior markets strategist Imre Speizer said.

Source: New Zealand Herald August 17, 2021 04:31 UTC