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Monetary policy review

OCR surprisingly on hold as Committee split on timing

28 Oct 2026
Brad Olsen's-profile-photo
Brad Olsen

Our take on the latest Monetary policy review (Wed 28 Oct 2026)

Official cash rate
Tight vote
Likely further increase
2.75%
4 vs 3
Unchanged
Between a hold and a raise
To 3.00% in Dec 2026

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