Economist at UOB Group Lee Sue Ann sees the RBNZ raising the OCR by 25 bps at the April 5 event ahead of a potential pause in the next months.

“We now think the RBNZ will have to dial back on further rate hikes, especially in light of the looming policy-induced recession and surging migration domestically.”

“We are pencilling in a 25bps hike in the OCR to 5.00%, after which we expect a pause in the current tightening cycle.”