OCR preview: Reserve Bank tipped to remain cautious
Nearly all of the economists who responded to TMM Online's August OCR Preview Survey said they were "99% to 100% certain" there would be no move in the central bank rate, amid lacklustre economic growth.
Last time around, RBNZ governor Orr kept the market guessing by refusing to rule out a rate hike or rate cut. A couple of economists say there is an outside chance of a surprise cut next week.
Westpac's Dominick Stephens expects a "neutral to slightly dovish" statement. He said the OCR would likely be unchanged, but could move "a smidgen lower".
Most expect the central bank to retain a neutral outlook. Robin Clements, economist at UBS, said the central bank was likely to "use up and down language", keeping the door open to a future cut.
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