'Already priced in': BNZ "reasonably confident" Official Cash Rate will rise
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It's thought another split vote could be on the cards for today's OCR decision.
The Reserve Bank will announce its decision at 2pm.
BNZ Head of Research Stephen Toplis expects a 25 basis point increase, taking it from 2.25% to 2.5%.
He told Mike Hosking the war in Iran has increased uncertainty about the economy's future.
Toplis says banks have already priced in three rate hikes to their mortgage rates – only those on a floating rate should see a major shift.
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