OCR predicted to remain steady
Thu, 26 Jul 2012 5:58a.m.
It's widely predicted the Reserve Bank will keep the official cash rate (OCR) at 2.5 percent when it makes its rate announcement on Thursday.
All 15 economists in a Reuters survey earlier this week have predicted the OCR will remain unchanged.
The OCR was dropped to 2.5 percent in March last year, as the bank eased the rate to help the economy recover after the earthquake in Christchurch in February.
The OCR, a tool for controlling inflation, influences the price of borrowing money. It dictates the costs of registered banks settling their daily accounts with the Reserve Bank.
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