The Reserve Bank is expected to keep holding New Zealand's lofty interest rates on high.

Governor Adrian Orr has warned against expectations, inflation might drop below three percent anytime soon, during a speech at Waikato University.

The central bank's been keeping the Official Cash Rate - a factor which determines interest rates, at 5.5 percent, as it fights inflation - at 4.7 percent.

Independent economist Cameron Bagrie told Heather du Plessis-Allan that it seems OCR rates aren't going to come down in the near future.

He says the Reserve Bank's patience appears to be wearing thin, as inflation is coming down, but it's taking an awful long time.



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The Reserve Bank is expected to keep holding New Zealand's lofty interest rates on high.
Governor Adrian Orr has warned against expectations, inflation might drop below three percent anytime soon, during a speech at Waikato University.
The central bank's been keeping the Official Cash Rate - a factor which determines interest rates, at 5.5 percent, as it fights inflation - at 4.7 percent.
Independent economist Cameron Bagrie told Heather du Plessis-Allan that it seems OCR rates aren't going to come down in the near future.
He says the Reserve Bank's patience appears to be wearing thin, as inflation is coming down, but it's taking an awful long time.
 
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.