TMM - News

Westpac forecasting an even higher OCR

Thursday 4th of November 2021

Along with most experts, the bank had been forecasting the Official Cash Rate to plateau at about 2%.

The last time the OCR was at this level Westpac's two-year fixed rate sat at 6% (see graph).

But Westpac now thinks a 2% OCR would not be enough to rein in inflationary pressures.

Its view has been affected by a record-equalling low of 3.4% unemployment, wh...

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