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OCR expected to hold

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Business News | Thursday April 26 2012 4:57

OCR expected to hold


The Official Cash Rate is expected to be held at its record low of 2.5 percent today.

An announcement from the Reserve Bank will be made at 9am this morning.

ASB chief economist Nick Tuffley says any increase to the OCR is still some way off.

"We still have a situation where the global environment's still looking a little bit precarious at times."

Mr Tuffley says there's a lot of risk from places such as Spain, Greece and Portugal.

Business analyst Brian Gaynor says over $90 billion dollars is held in banks by depositors in New Zealand - but at low interest rates.

He says share markets around the world have had a strong run over the past couple of months, because investors are feeling more confident to move their money from the bank to riskier assets.

But Mr Gaynor says investors need to be wary as the share market is more volatile.

Photo: NZ Herald

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