Following four consecutive rate hikes and then a hold decision at its September meeting, the Reserve Bank of New Zealand (RBNZ) left the official cash rate (OCR) on hold at 3.5 per cent when it met on October 30. The reference to further rate increases has been removed from the RBNZ's statement, and with only one meeting left before the end of the calendar year – on December 11 – many analysts now predict a stable OCR well into 2015.