to trade and code, keep both simple... no call to impress....h
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Reserve Bank surprise: OCR on hold
video Interest rates could rise after the Reserve Bank defied bank forecasts and elected to keep the Official Cash Rate (OCR) on hold at 1 per cent. All the major banks had forecast a 25 basis-point cut, with Westpac reverting to that forecast on Tuesday after the Reserve Bank reported a slight dip in business managers' expectations of future inflation. That meant a 25bp cut was largely priced into the lending and currency markets prior to Wednesday's monetary policy statement. But the Reserve Bank's decision to instead keep the OCR on hold means banks will be scrambling to reassess the outlook for next year. ANZ ... (full story)