Stephen Toplis: BNZ Head of Research on the bank expecting a 25 basis point increase to the OCR

It's thought another split vote could be on the cards for today's OCR decision.   The Reserve Bank will announce its decision at 2pm.   BNZ Head of Research Stephen Toplis expects a 25 basis point increase, taking it from 2.25% to 2.5%.   He told Mike Hosking the war in Iran has increased uncertainty about the economy's future.   Toplis says banks have already priced in three rate hikes to their mortgage rates – only those on a floating rate should see a major shift.  LISTEN ABOVE See omnystudio.com/listener for privacy information.