Banks are once again jockeying for position -- with ASB lowering its rates this morning, off the back of a move by Westpac yesterday afternoon

Many borrowers are now on floating or short-term fixed rates as they await more OCR cuts.

However, bank economists now expect the Reserve Bank to start hiking the OCR again next year.

Infometrics Principal Economist Brad Olsen says the latest changes to advertised rates are likely to be the first of many small adjustments.

He says the changes won't be big, but they may be enough for banks to attract more customers and increase market share.