The Reserve Bank remains concerned about domestic inflation as it points to more OCR cuts next year following the latest 50 basis point cut. 

Inflation is now at 2.2%, with weak global demand pushing tradeable inflation down to -1.6%. 

But non-tradeable inflation —things like insurance, rates, power and rents— remains at 4.9%. 

Reserve Bank Assistant Governor Karen Silk told Mike Hosking that needs to be brought down to just under 3%, which is where it's historically sat. 

She says this type of inflation, which is less responsive to monetary policy, remains persistent. 

LISTEN ABOVE 

The Reserve Bank remains concerned about domestic inflation as it points to more OCR cuts next year following the latest 50 basis point cut.&nbsp;
Inflation is now at 2.2%, with weak global demand pushing tradeable inflation down to -1.6%.&nbsp;
But non-tradeable inflation —things like insurance, rates, power and rents— remains at 4.9%.&nbsp;
Reserve Bank Assistant Governor Karen Silk told Mike Hosking that needs to be brought down to just under 3%, which is where it's historically sat.&nbsp;
She says this type of inflation, which is less responsive to monetary policy, remains persistent.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Karen Silk: Reserve Bank Assistant Governor talks domestic inflation, OCR cuts

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/31c2b743-2684-4a63-a321-b23501403c96/transcript