ANZ is predicting more cuts to the Official Cash Rate - taking it to 2.5 percent

It currently sits at 3.5 percent and the bank had previously predicted a low of three percent.

Chief Economist Sharon Zollner says a combination of factors are behind the shift in forecast.

She says the includes the housing market, the services index, and business opinion - plus there's the headwinds from offshore.

Zollner says it's too soon to make any concrete judgements on what might happen to our commodity prices - but it's likely uncertainty is going to persist for a while.