For the first time in nearly two years the forthcoming review of the Official Cash Rate (OCR) by the Reserve Bank (Wednesday July 12) is not a 'live one'. So, the August 2021 RBNZ review of the OCR officially became a 'live one', with the universal expectation that the OCR would be lifted for the first time since mid-2014. There's more than enough there to justify the RBNZ being able to raise its hand once again and say 'no more' to OCR rate rises - at least for now. I would expect a similar 'key' paragraph to end the OCR statement in the coming week. The 'heavy lifting' (of interest rates) is done.

Source: Stuff July 09, 2023 06:39 UTC