ANZ chief economist on the Official Cash Rate announcement

Author
Newstalk ZB,
Publish Date
Wed, 24 Feb 2021, 10:41AM
Photo / 123RF
Photo / 123RF

ANZ chief economist on the Official Cash Rate announcement

Author
Newstalk ZB,
Publish Date
Wed, 24 Feb 2021, 10:41AM

The Reserve Bank is tipped to wait two years before changing the Official Cash Rate.

It's making an announcement at 2pm, along with a Monetary Policy Statement.

ANZ chief economist, Sharon Zollner, told Kate Hawkesby the central bank's using unconventional tools like buying bonds, quantitative easing, and funding for lending, which are a lot easier to get into, than get out of.

She says they complicate things and lengthen the amount of time the Reserve Bank takes to change the OCR.

Zollner says it will be thinking about early 2023, but probably isn't willing to put a date on it.

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