Wednesday, June 9, 2010

Many financial commentators are predicting Reserve Bank Governor Alan Bollard will lift the Official Cash Rate, when he makes his quarterly fiscal announcement tomorrow morning.

If Dr Bollard lifts the OCR, it will the first rise since late July 2007, when he lifted the rate to 8.25% the highest rate since the introduction of the OCR in 1999.

A survey conducted by Reuters had 15 out of 18 financial institutions surveyed believing Dr Bollard will raise the cash rate by a quarter point, to 2.75%.

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