Further cuts to the Official Cash Rate remain possible, but aren't guranteed

The Reserve Bank's opted to keep the OCR at 3.25 percent.

Some economists are forecasting further cuts, to 2.5 percent.

But NZIER Senior Economist Ting Huang says its Shadow Board of independent economists is forecasting a low of between 2.75 percent and 3.25 percent.

She says there is a broad view, that the OCR cuts will end in the next year.

NZIER itself is forecasting one further cut, to 3-percent.