Nick Tuffley: ASB Chief Economist says that the OCR will likely continue to be cut in the wake of the GDP slump

Early Edition with Ryan Bridge

Innehåll tillhandahållet av NZME and Newstalk ZB. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av NZME and Newstalk ZB eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

2M ago 3:12

MP3•Episod hem

There are expectations that cuts to the Official Cash Rate are now going to keep on coming.

Yesterday's Stats NZ figures show our GDP contracted 0.2% in the three months to June.

In the March quarter, 0.1% growth was recorded.

ASB Chief Economist Nick Tuffley says the numbers show inflation's falling within the Reserve Banks expectations.

He told Ryan Bridge they're now going to continue cutting the OCR to get it from 5.25% to around 3%.

Tuffley says if they cut a quarter every meeting, we'll reach that target by October next year.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

3361 episoder

#New Zealand Current Affairs #NZME #Newstalk ZB #News #New Zealand