OCR: Rates held steady today but hikes at the ready if needed - Breman

Infometrics chief executive Brad Olsen said the Reserve Bank will not want to have a "knee jerk" reaction to the ongoing situation.

The Reserve Bank's monetary policy committee discussed raising rates at its latest review but opted to hold the official cash rate (OCR) steady at 2.25%, with the governor saying members were "not close" to picking a hike today.

The announcement was made at 2pm.