Larry Williams Drive

The Reserve Bank left the OCR unchanged today - but people may have to hold out for rate cuts. RBNZ Governor Adrian Orr revealed the bank considered hiking rates past 5.5 percent, and there's still scope for a potential hike this year. The committee also pushed out its projected timeframe for its first OCR cut from mid-2025 to around September 2025. NZ Herald Wellington business editor Jenee Tibshraeny says today's update marked a change of tone from the bank. LISTEN ABOVESee omnystudio.com/listener for privacy information.