The Reserve Bank of New Zealand are expected to make a decision about the OCR on May 24th. 

This announcement will take place six days after the 2023 Budget is delivered by Finance Minister Grant Robertson.

HSBC Chief Economist Paul Bloxham predicts the Government will play it safe in this year's Budget, because they have a difficult line to tread between repairing cyclone damage and reducing inflation.

"There will be a strong temptation to provide support, in fact a need to provide some support. But a temptation to provide more broad support, that just, of course, creates a bigger inflation challenge."

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