Confidence another substantial Official Cash Rate cut's on the cards, with today's figures showing inflation is still under control.

Stats NZ says the rate for the year to December remained unchanged at 2.2 percent.

Inflation is well down from the 2022 high of 7.3 percent, but still higher than the 1.5 percent reached in 2021.

Infometrics Chief Forecaster Gareth Kiernan says he's confident the Reserve Bank will slice 50 basis points from the OCR in February.

"Non-tradeable inflation is still coming down - there's risks on the tradeable side, but I don't think there's enough there to sway the Reserve Bank towards going with a smaller 25 point cut."

LISTEN ABOVE

Confidence another substantial Official Cash Rate cut's on the cards, with today's figures showing inflation is still under control.
Stats NZ says the rate for the year to December remained unchanged at 2.2 percent.
Inflation is well down from the 2022 high of 7.3 percent, but still higher than the 1.5 percent reached in 2021.
Infometrics Chief Forecaster Gareth Kiernan says he's confident the Reserve Bank will slice 50 basis points from the OCR in February.
"Non-tradeable inflation is still coming down - there's risks on the tradeable side, but I don't think there's enough there to sway the Reserve Bank towards going with a smaller 25 point cut."
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

Gareth Kiernan: Infometrics Chief Forecaster hopeful the Reserve Bank will cut rates in February

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2aac9f7b-6c37-40c3-9630-b26d006000e9/transcript

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