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

Westpac Senior Economist: Easing inflation unlikely to stop Reserve Bank from lifting OCR

Author
Newstalk ZB,
Publish Date
Thu, 20 Apr 2023, 6:04pm
Photo / File
Photo / File

Westpac Senior Economist: Easing inflation unlikely to stop Reserve Bank from lifting OCR

Author
Newstalk ZB,
Publish Date
Thu, 20 Apr 2023, 6:04pm

A prediction the Reserve Bank is unlikely to cut the Official Cash Rate, despite inflation easing.

Inflation increased 6.7 percent in the year to March, dipping from 7.2 percent December.

Westpac Senior Economist Michael Gordon says it'll be down to easing international pressures on things like shipping prices.

He thinks the Reserve Bank won't yet relax the OCR yet, which is now sitting on 5.25.

"I still think they'll be keen to signal their vigilance against inflation, they've done a lot of work already and it just needs to take some time for high interest rates to have their impact on things."

LISTEN ABOVE

 

Take your Radio, Podcasts and Music with you