Bollard's swansong low interest rates
One of those reasons is that he hands over the bank reigns to Graeme Wheeler later this month. Another is that domestic economic growth continues its subdued pace and global conditions remain shaky, especially now China's economy is slowing.
All 13 economists surveyed by mortgagerates.co.nz expect Bollard to leave his official cash rate (OCR) unchanged at its record low 2.50% on Thursday.
For once, the economists and wholesale financial markets agree – earlier this year, the markets had been pricing in a chance of an OCR cut.
Despite the changing of the guard at the central bank, the earliest any economist expects the OCR to rise is March next year as most continue to push their forecasts further out – ANZ Bank's economists now expect no change until early 2014.
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