ANZ has admitted it got it's Official Cash Rate prediction wrong

The country's largest bank was an outlier in predicting the Reserve Bank would lift it.

It has held the OCR at 5.5 percent.

ANZ chief economist Sharon Zollner says there's risk it could be a temporary reprieve we end up paying for later.

She says if it turns out that more tightening was needed, that rates could end up going higher, for longer.