The Reserve Bank has lifted the Official Cash Rate for the first time in more than three years.

It's raised the OCR 25 basis points to 2.5 percent.

The Monetary Policy Committee's six members all agreed to raise the cash rate - despite divided opinions from economists.

Infometrics Principal Economist Brad Olsen says the Reserve Bank will be looking to get the OCR down to a more 'normal' level - and this increase is the first step.

LISTEN ABOVE

The Reserve Bank has lifted the Official Cash Rate for the first time in more than three years.
It's raised the OCR 25 basis points to 2.5 percent.
The Monetary Policy Committee's six members all agreed to raise the cash rate - despite divided opinions from economists.
Infometrics Principal Economist Brad Olsen says the Reserve Bank will be looking to get the OCR down to a more 'normal' level - and this increase is the first step.
LISTEN ABOVE

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Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Brad Olsen: Infometrics Principal Economist on the Reserve Bank increasing the OCR by 25 basis points

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b7422363-cb29-4865-a34b-b481002d9d8c/transcript