John Key expects OCR cut
In an interview with Bloomberg today he said "The market has priced in a cut from the Reserve Bank".
"That would probably be my expectation, that the Reserve Bank would cut, but it's for them to determine that"
This is in line with the predictions of economists from ANZ, Westpac, ASB and the Deutsche Bank which all expect the Official Cash Rate (OCR) to be cut by the Reserve Bank at next Thursday's Monetary Policy Statement.
Most predictions are for a 50 basis point cut from 3.00% to 2.50% and in that light, one-year rates from 10 lenders have already dropped by that amount in the last two days as seen in this story.
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