ZB

Economist: Central bank likely to continue with 25 basis point rises until OCR hits 3%

Author
Newstalk ZB,
Publish Date
Wed, 25 May 2022, 7:37am
Photo / 123RF
Photo / 123RF

Economist: Central bank likely to continue with 25 basis point rises until OCR hits 3%

Author
Newstalk ZB,
Publish Date
Wed, 25 May 2022, 7:37am

Prepare for interest rates to keep rising.

The Reserve Bank is expected to raise the Official Cash Rate by another 50 basis points today, to counter rising inflation.

That would take the OCR from 1.5 to 2.0 per cent -it's highest point in six years.

Kiwibank Chief Economist Jarrod Kerr told Mike Hosking the central bank is likely to continue with 25 basis point rises until the OCR hits three percent.

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