ANZ's economists have lowered their Official Cash Rate (OCR) forecast and no longer expect the Reserve Bank (RBNZ) to hike above 5.50% at their meeting in February. Sharon Zollner, the bank’s chief economist, said it was looking “much less likely” that the December quarter inflation number would be surprisingly hot. New monthly price indices, which cover 45% of the consumer price index, was released for the first time this week and suggested the next inflation number might be lower than expected. This comes after the September inflation and labour market data both came in weaker than forecast. Economists are still ... (full story)