{video} Economists say the Reserve Bank may be incorrect that 5.5% is as high as the official cash rate will need to go. The Reserve Bank said in its latest monetary policy statement that it did not expect to need to increase the OCR again beyond its current 5.5%. It forecast the rate to stay at 5.5% into the middle of 2024, before easing slowly. Governor Adrian Orr said, with rates remaining at restrictive levels for some time, inflation would return to its target range of 1% to 3% a year. But Westpac chief economist Kelly Eckhold said more increases were likely to be required to get inflation to that level. He ... (full story)