OCR on hold but not all good news for borrowers
All of the economists polled by mortgagerates.co.nz expect the OCR to be kept at 2.5% this Thursday.
Westpac chief economist Dominick Stephens expects the first move in the OCR next March and said the Reserve Bank would come out no more hawkish this time than at the last announcement.
In July, Reserve Bank governor Graeme Wheeler made it clear that a cycle of hikes was on the way and Stephens said that would likely be repeated.
He said there was stronger economic data now although the housing market outlook was distinctly weaker, due to looming loan-to-value speed limits and a sharp increase in fixed interest rates at retail banks.
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