Podcasts Other The Mike Hosking Breakfast Andre Castang: ANZ Economist says the bank is standing by their predictions of further interest rates

Andre Castang: ANZ Economist says the bank is standing by their predictions of further interest rates

Published: Feb. 20, 2024, 7:22 p.m.

ANZ is standing by its prediction of more interest rate rises this year.\xa0

The country's largest bank is forecasting the OCR will be hiked two more times this year, bringing it to 6%, despite other banks expecting the OCR to remain steady.\xa0

It's also not ruling out the OCR surpassing 7% or even 8% in the current cycle.\xa0

ANZ Economist Andre Castang told Mike Hosking that they're relatively confident in their prediction, even if they're out of step with other banks.\xa0

He says even if the OCR isn't raised next Wednesday, a raise is quite likely in April.\xa0

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