The Reserve Bank yesterday held the the official cash rate at 0.25 percent, but some retail banks have already raised their retail rates, anticipating OCR rises later this year.
The Reserve Bank has also brought an abrupt halt to its bond-buying programme, essentially a means of printing money. It comes ahead of Stats NZ releasing the consumer price index data for the June quarter, tomorrow. So is the OCR going to rise soon and what impact will it have when it does?
RNZ Business Editor Gyles Beckford looks ahead to the ramifications.