The October 2022 Survey of Expectations (SOE) found that business’ OCR expectations continued to rise over all time periods. The OCR was last raised by 50 basis points on 5 October 2022 to 3.50%. The next RBNZ Monetary Policy Statement will be released on 23 November 2022. One quarter ahead The mean OCR expectation for the end of the current quarter was 4.15% showing that the majority of respondents expect to see a 65 basis point rate hike from the current level of 3.50%. This is up 115 basis points from last quarter’s mean estimate of 3.00%. One year ahead The mean estimate for the OCR one year ahead was 4.67%, up ... (full story)