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Kelly Eckhold: Westpac Chief Economist challenges the Reserve Bank's cuts to the Official Cash Rate
Published 4 months, 2 weeks ago
Description
Another spike in inflation won't stop the Reserve Bank from cutting the Official Cash Rate again next month.
Stats NZ is providing its latest quarterly CPI update at 10.45.
Most economists expect it to hit the Reserve Bank's upper limit of three-percent, and some think it will surpass that limit.
But Westpac Chief Economist Kelly Eckhold told Mike Hosking the Reserve Bank still thinks the economy's weak enough to start pushing inflation down.
He says even the Reserve Bank probably won't be too bothered, even if inflation surpasses the three-percent limit.
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