An economist says there's a risk the Reserve Bank won't cut the OCR until next year.

It's kept the Official Cash Rate at 5.5 percent today, unchanged over a year with seven consecutive holds.

Kiwibank's, Jarrod Kerr says there is worry it won't be cut until February.

However, his bank's outlook remains the same.

"Our forecast has inflation dropping below 3 percent by the end of the year, and I think that could still push them to cutting in November. But the risk is clearly that it's sometime next year."

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