Jarrod Kerr: Kiwibank economist predicts OCR will be reduced come November

There's some potential light at the end of the tunnel for mortgage holders after today's Reserve Bank update. The OCR's been held in place at 5.5 percent - the eighth pause in a row. However, the Bank's tone has softened, with experts predicting inflation will make the one-to-three percent target by the end of this year. Kiwibank Chief Economist Jarrod Kerr says his bank's sticking to its November forecast for an OCR reduction. "The commentary that we saw out of the Reserve Bank today suggests they're opening the door to a rate cut earlier than they had expected." LISTEN ABOVESee omnystudio.com/listener for privacy information.