Don't expect any OCR increases soon. That's the message from New Zealand Institute of Economic Research (NZIER) latest report out yesterday. It says the first hike of the Official Cash Rate may now be later than mid-2013, due to heightened global tensions and weakening domestic activity.
NZIER principal economist Shamubeel Eaqub had been picking the first OCR hike around mid-2013, now he says that may be later.
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