OCR could reach 4.25% - ASB
This is higher than the 4% level favoured by many of their rivals.
ASB's chief economist Nick Tuffley follows many colleagues in forecasting two more 50 point rises this year but “pencils in” a 25 point rise next February.
This follows a 1.7% rise in GDP revealed by Stats NZ, which has sent economists fretting about an economy that is too strong for inflation to be easily contained.
“Second quarter GDP was stronger than our expectations, with signs that momentum in the second half of 2022 will be also stronger than we have been anticipating,” Tuffley said.
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