New RBNZ governor not likely to wheel out rate cut
Of the 11 economists polled by www.mortgagerates.co.nz, all expect the rate to be kept unchanged at 2.5%.
It had been suggested that lower than expected inflation figures might prompt a reduction in the rate but most of the economists said that the probability of Graeme Wheeler keeping the rate on hold was 90% or more.
The exceptions were Paul Bloxham of HSBC, who said the chance was only 60% and Matt Sturmer, of Forsyth Barr, who said it was 80%. Mark Lister, of Craigs Investment Partners, was the only economist 100% sure that the rate would remain unchanged on Thursday.
All of the economists surveyed expected the next movement of the OCR to be up 25 basis points, to 2.75%, although Chris Green, of FNZC said there was a 5% chance of a 25 basis point cut this time.
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