The chances of more OCR cuts seem to be fading

NZIER's latest Quarterly Survey of Business Opinion shows rising business confidence and easing inflationary pressures.

The business think tank doesn't think the OCR will go below the current 2.25 percent.

Business Desk's Garth Bray says the Reserve Bank's Monetary Policy Committee will factor these survey results into next month's OCR decision.

He says this survey tends to sometimes fall hard on the side of optimism, but it's one the central bank watches closely.