There are fears young people will come out worse off from any upcoming recession.

Reserve Bank Governor Adrian Orr has confirmed the bank is deliberately engineering a recession, with plans to hike the Official Cash Rate as high as 5.5 percent.

That recession is expected to hit around the middle of next year.

Former Finance Minister Steven Joyce told Mike Hosking it will be felt particularly by young people, especially young home owners who have recently hopped on the property ladder.

He says in a wage price spiral, consumption needs to be slowed, and that usually means pushing the economy backwards.

LISTEN ABOVE

There are fears young people will come out worse off from any upcoming recession.
Reserve Bank Governor Adrian Orr has confirmed the bank is deliberately engineering a recession, with plans to hike the Official Cash Rate as high as 5.5 percent.
That recession is expected to hit around the middle of next year.
Former Finance Minister Steven Joyce told Mike Hosking it will be felt particularly by young people, especially young home owners who have recently hopped on the property ladder.
He says in a wage price spiral, consumption needs to be slowed, and that usually means pushing the economy backwards.
LISTEN ABOVE

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. 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.