Sharon Zollner: ANZ Chief Economist on the OCR being held at 5.5%

Economists' Official Cash Rate expectations have proven correct.  It's staying at 5.5% for the eight consecutive time.  But the Reserve Bank's tone has softened, and they’re hinting that inflation will return to its 1-3% target by the year's end.  ANZ Chief Economist Sharon Zollner told Ryan Bridge that the Reserve Bank was pretty careful to leave all their options open regarding a rate cut.  She said that they see it as tilting the risks a little bit towards earlier cuts, but essentially, it’s going to be the data that decides when the inflation data is released next week.  LISTEN ABOVE See omnystudio.com/listener for privacy information.