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OCR will stay put for a long time

The official cash rate is either going to stay where it is for a long time or a very long time, according to Fergus McDonald, head of fixed interest and currency at Nikko Asset Management New Zealand.

If the OCR does move in the short term, something he thinks is unlikely, it will be down. Otherwise, the next move is likely to be up - a long way down the track, McDonald told an

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