Kelly Eckhold: Westpac Chief Economist talks fears around bond markets, predicts OCR hikes
An expectation of more OCR hikes - with bond yields rising internationally.
10-year New Zealand government bonds are now paying above five percent - the highest level since 2023.
US 30-year Treasury bonds are at their highest point since 2007.
The OCR rose to 2.75 percent two weeks ago.
Westpac Chief Economist Kelly Eckhold told Heather du Plessis-Allan central banks have a lot of work to do next year, so he expects the OCR could be four percent at the end of next year.
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