OCR Preview: Economists predict rates will hold
A total of 85% of economists who responded to TMM's OCR Preview Survey say the central bank's Monetary Policy will opt to keep the OCR at its current record low.
The group of economists believe there is an outside chance rates could be cut, but say Adrian Orr and fellow MPC members will keep their powder dry for now.
All respondents to our survey believe the OCR will drop further, with cuts in August predicted. Two economists say a further cut in November will take the OCR to 1%.
Amid escalating trade tensions between the US and China, and falling GDP in major economies, leading economists say the bank could point to increased risks to the domestic economy.
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