An expectation of more OCR hikes - with bond yields rising internationally.

10-year New Zealand government bonds are now paying above five percent - the highest level since 2023.

US 30-year Treasury bonds are at their highest point since 2007.

The OCR rose to 2.75 percent two weeks ago.

Westpac Chief Economist Kelly Eckhold told Heather du Plessis-Allan central banks have a lot of work to do next year, so he expects the OCR could be four percent at the end of next year.

LISTEN ABOVE

An expectation of more OCR hikes - with bond yields rising internationally.
10-year New Zealand government bonds are now paying above five percent - the highest level since 2023.
US 30-year Treasury bonds are at their highest point since 2007.
The OCR rose to 2.75 percent two weeks ago.
Westpac Chief Economist Kelly Eckhold told Heather du Plessis-Allan central banks have a lot of work to do next year, so he expects the OCR could be four percent at the end of next year.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Kelly Eckhold: Westpac Chief Economist talks fears around bond markets, predicts OCR hikes

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/fc79ae01-e800-4910-8f5a-b4c5007eaecd/transcript