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

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

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

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

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b2087723-adf6-45c6-806c-b1f00153d604/transcript

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