JUNO Definitions - O
Official Cash Rate (OCR): The OCR is a tool used to influence the price of borrowing money in New Zealand. It gives the Reserve Bank a way of shaping New Zealand’s level of economic activity and inflation.
Option: The right (but not an obligation) to buy or sell an asset, such as a currency, at a certain price in the future.
Over-The-Counter (OTC): A trading platform that is not a formal exchange. For example, an interbank market between bank dealing rooms, or a dealer network.