There are hopes we'll be in a position to see an Official Cash Rate increase next year.

The OCR remains unchanged at 0.25 per cent.

The Reserve Bank says prolonged monetary stimulus is needed, with the economic outlook looking highly uncertain due to Covid-19.

Kiwibank's chief economist Jarrod Kerr told Heather du Plessis-Allan they expect a rate hike from the central bank at the end of 2022.

"There's still a lot of risks out there, and I think they want to keep their foot firmly on the accelerator for the next year to make sure every part of the economy is performing well."

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