But most of NZIER’s shadow board pick the OCR will sit between 3.5% and 4.5% a year from now.
Unemployment rose a touch above expectations in the June quarter, inflation the big unknown.
Slightly higher than expected, while wage inflation remains elevated.
But Governor Philip Lowe says further hikes may be needed to cool inflation pressures.
Underlying stickiness could result in need to raise OCR again to cool inflation.
Food prices the biggest driver of annual inflation, which eased to 6% in the year to June, according to Stats NZ data.
RBNZ left OCR unchanged for first time in 21 months, but some economists still pencil in more hikes.
OCR remains unchanged at 5.5%, with Monetary Policy Committee saying recent economic indicators suggest near-term growth likely to remain weak.
Quarterly survey of business opinion continues improvement from historic low but many still downbeat.
Long-term, focused investment is needed to shift the dial, Ganesh Nana says.