Episode Details

The Reserve Bank just hiked rates by 25 basis points to 2.5%, aiming to curb inflation fueled by global shocks — though some say banks already priced in the move. With inflation stubborn and growth accelerating, the central bank’s own committee expects more hikes to hit their 2% target. Finance Minister Nicola Willis pushes back, arguing it’s too early to panic — pointing to Middle East tensions easing and petrol prices falling, which could lift consumer confidence. She defends her government’s restrained spending, calling it essential to fix a “fiscal mess” and avoid the post-pandemic economic pain. Meanwhile, the opposition blasts the hike, warning of higher mortgage costs for struggling families and accusing the government of failing on the cost-of-living crisis while handing control to the Reserve Bank.

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