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7 Aug 2025 16:18
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  •   Home > News > Business

    Rising unemployment is expected to add to the case for a lower OCR

    Rising unemployment is expected to add to the case for a lower OCR

    7 August 2025
    Unemployment's hit a five-year high of 5.2 percent and is expected to rise further.

    Economists now broadly expect the Reserve Bank to cut the Official Cash Rate by another 25-basis-points, to three-percent, in two weeks.

    BNZ Chief Economist Mike Jones says further cuts now seem likely.

    He says his team have been forecasting a neutral rate of 2.75 percent for years, but there's a chance the OCR could get to 2.5 percent in the current cycle.

    © 2025 Newstalk ZB, NZCity


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