Growing market turmoil and trade war concerns have lifted the odds on the Reserve Bank cutting the official cash rate to 0.75 per cent by the end of the year.

Tomorrow Reserve Bank Governor Adrian Orr is widely expected to cut the official cash rate by 25 basis points to a fresh low of 1.25 per cent.

ANZ economists today changed their OCR call and are now picking three cuts this year.

"We now expect 25bp OCR cuts in August, September, and November, taking the OCR to 0.75 per cent," wrote ANZ chief economist Sharon Zollner in a new report

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