Infometrics predict the official cash rate (OCR) won’t move until February next year - rather than this November.

Non-tradeable inflation (inflation that is domestic and not influenced by international factors) has caused issues for the Reserve Bank – say business commentators.  

It makes up almost 60% of the consumer price index (CPI), which the Reserve Bank is trying to reduce. 

Infometrics Principal Economist Brad Olsen told Jack Tame “We kept looking out at the economy and we can’t support our previous view.”

Olsen says “You’re not going to use monetary policy to get local government rates under control, or insurance premiums.”

LISTEN ABOVE.

Infometrics predict the official cash rate (OCR) won’t move until February next year - rather than this November. 
Non-tradeable inflation (inflation that is domestic and not influenced by international factors) has caused issues for the Reserve Bank – say business commentators.  
It makes up almost 60% of the consumer price index (CPI), which the Reserve Bank is trying to reduce. 
Infometrics Principal Economist Brad Olsen told Jack Tame “We kept looking out at the economy and we can’t support our previous view.” 
Olsen says “You’re not going to use monetary policy to get local government rates under control, or insurance premiums.” 
LISTEN ABOVE.

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Brad Olsen: Infometrics Principal Economist on forecast for official cash rate

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/bfababb1-56cf-49e0-89d3-b1870081570e/transcript