The Reserve Bank left the OCR unchanged today - but people may have to hold out for rate cuts.

RBNZ Governor Adrian Orr revealed the bank considered hiking rates past 5.5 percent, and there's still scope for a potential hike this year.

The committee also pushed out its projected timeframe for its first OCR cut from mid-2025 to around September 2025.

NZ Herald Wellington business editor Jenee Tibshraeny says today's update marked a change of tone from the bank.

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