Paul Bloxham: HSBC chief economist on the Reserve Bank's decision to hold the OCR in place for longer - Heather du Plessis-Allan Drive

The Reserve Bank's decision to hold the OCR in place at 5.5 percent has inspired some banks to lower their rates.

This is despite some economists warning inflation is still running too high at this point.

HSBC chief economist Paul Bloxham says New Zealand's Reserve Bank is one of the only central banks in the world saying rates might need to go up again.

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