The Reserve Bank is walking a tight rope when it comes to interest rates.
The OCR is expected to remain unchanged at 5.5% when the bank releases its quarterly Monetary Policy Statement this afternoon.
It's signalled a rate cut may not come for another year.
ANZ's Chief Economist Sharon Zollner told Mike Hosking that their view is that a cut is more likely to come next year, as inflation is coming down quite slowly.
On the other hand, she said, the economy has come down quite quickly, so it’ll depend on how they weigh up those two factors.
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