There's growing concern about the impact of the Middle East conflict, and at least one major bank has forecasted increases to the OCR.

ANZ has revised its outlook, with forecasted increases to the OCR bringing rates up to 3 percent by October.

Associate Finance Minister Chris Bishop says skyrocketing fuel prices will have a flow-on effect on the New Zealand economy - and it's likely inflation will spike too.

"That's an unfortunate reality of global events...the forecast will properly come out with the Budget, that's the kind of next major event."

LISTEN ABOVE

There's growing concern about the impact of the Middle East conflict, and at least one major bank has forecasted increases to the OCR.
ANZ has revised its outlook, with forecasted increases to the OCR bringing rates up to 3 percent by October.
Associate Finance Minister Chris Bishop says skyrocketing fuel prices will have a flow-on effect on the New Zealand economy - and it's likely inflation will spike too.
"That's an unfortunate reality of global events...the forecast will properly come out with the Budget, that's the kind of next major event."
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

Chris Bishop: Associate Finance Minister on the prospect of the OCR going up

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3515ae83-038e-4989-be8a-b42b006fe894/transcript