The ANZ Bank has changed its official cash rate (OCR) forecast, now expecting the first cut to arrive in February, rather than May 2025.

Meanwhile, The European Central Bank has cut interest rates for the first time in five years, and the Bank of Canada has become the first G7 nation to cut rates.

ANZ Chief Economist Sharon Zollner told Heather du Plessis-Allan “Essentially the Reserve bank’s mandate is to get inflation under control.”

Zollner said “It’s the mix of inflation that matters – oil price is the biggie, which they can’t influence. But homegrown inflation is very slow to fall.”

LISTEN ABOVE.

The ANZ Bank has changed its official cash rate (OCR) forecast, now expecting the first cut to arrive in February, rather than May 2025. 
Meanwhile, The European Central Bank has cut interest rates for the first time in five years, and the Bank of Canada has become the first G7 nation to cut rates. 
ANZ Chief Economist Sharon Zollner told Heather du Plessis-Allan “Essentially the Reserve bank’s mandate is to get inflation under control.” 
Zollner said “It’s the mix of inflation that matters – oil price is the biggie, which they can’t influence. But homegrown inflation is very slow to fall.” 
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

Sharon Zollner: ANZ's Chief Economist on the bank's changed outlook on the official cash rate.

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/dc042646-3c44-408f-90ba-b188006ab2f8/transcript