"60% chance": Reserve Bank expected to 'toe the market's line', hike OCR

The election could factor into whether this afternoon brings the Reserve Bank's third OCR hike of the year.  

Most economists predict a 25 basis point lift to 3%.  

Inflation's sitting at 3.7% – outside its target band.  

Westpac Chief Economist Kelly Eckhold told Ryan Bridge there's an argument for holding off until December, but he expects the Reserve Bank will toe the market's line.  

He says it might be disruptive otherwise, so close to the election, but that doesn't mean it's the best idea. 

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