No hurry for RBNZ to raise OCR

Key highlights RBNZ leaves OCR on hold at 2.5% and highlights global uncertainty dominates its outlook. We expect Q2 GDP will be relatively weak, but underlying growth in the NZ economy remains firm. We now see March as the most likely timing for an OCR increase.   Report prepared by: Christina Leung ASB Economist Phone: +64 9 301 5661 Fax: +64 9 302 0992