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Reserve Bank tipped to keep OCR on hold

The Reserve Bank is expected to keep the Official Cash Rate on hold at 2.5 per cent when it is announced later this morning.

Source: Photos.com

Consumer price inflation is already at a record low, and that has added to the plummeting price of oil.

This has some economists worried about deflation.

The Reserve Bank governor Graeme Wheeler last month cut the OCR by 25 basis points to 2.5 per cent.