Predictions the country needs to go through two-years of stunted growth, to try to re-balance the economy.

Infometrics' latest forecast shows inflation may cause problems through until the end of 2024.

It's picking economic growth will slip below two percent in the second half of next year.

Infometrics Principal Economist, Brad Olsen told Kate Hawkesby interest rates are expected to go even higher than what was thought just a few months ago.

He says the housing market will continue it's downward trend, putting pressures on people wanting to borrow and the wider economy.

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