Economist pushes out dates for next OCR hikes

J P Morgan economist Helen Kevans says she has pushed out the likely timing of the next OCR rate hike to December.

Previously she had forecast that the Reserve Bank would deliver two more rate 25 basis point rate hikes before year-end.

"We expected the first of these to be delivered on September 16, with a pause in October, before another 25bp move higher in the December month.

"Now, though, we believe that increasing uncertainty surrounding the outlook for the global economy, combined with a string of weaker than expected domestic data, have afforded the Reserve Bank governor (Alan Bollard) time to stand pat. Our forecast now calls for the next OCR hike to be delivered in December."