ZB ZB
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

Leading economist sceptical of claims OCR hikes will be halted until next year

Author
Newstalk ZB,
Publish Date
Wed, 16 Aug 2023, 7:37AM
Reserve Bank Governor Adrian Orr. Photo / Mark Mitchell
Reserve Bank Governor Adrian Orr. Photo / Mark Mitchell

Leading economist sceptical of claims OCR hikes will be halted until next year

Author
Newstalk ZB,
Publish Date
Wed, 16 Aug 2023, 7:37AM

A leading economist is sceptical of claims Official Cash Rate hikes will be halted until next year.

The Reserve Bank is providing an OCR update today, with economists predicting it will stay at 5.5 percent.

Westpac Chief Economist Kelly Eckhold says the bank believes this will be on hold until the second half of next year.

But he told Kate Hawkesby with a strong labour market, strong migration, and high inflation, he isn't confident this will be the case.

Eckhold says the Reserve Bank may need to lift the OCR a bit more, so it can get the inflation rate back to under 3 percent in a reasonable time frame.

LISTEN ABOVE

 

Take your Radio, Podcasts and Music with you