An economist believes the Reserve Bank should raise the Official Cash Rate today to control inflation. 

The bank will release its first Monetary Policy Statement since war broke out in the Middle East, with most expecting it to hold at 2.25% and not rise until September. 

But Westpac Chief Economist Kelly Eckhold told Mike Hosking inflation was already at 3.1% before the war, and we'll likely spend time above 4% this year. 

He says six years of this decade will have seen inflation over 3%. 

LISTEN ABOVE 

An economist believes the Reserve Bank should raise the Official Cash Rate today to control inflation.&nbsp;
The bank will release its first Monetary Policy Statement since war broke out in the Middle East, with most expecting it to hold at 2.25% and not rise until September.&nbsp;
But Westpac Chief Economist Kelly Eckhold told Mike Hosking inflation was already at 3.1% before the war, and we'll likely spend time above 4% this year.&nbsp;
He says six years of this decade will have seen inflation over 3%.&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

Kelly Eckhold: Westpac Chief Economist ahead of the Official Cash Rate announcement

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/1a8a3463-cae4-4dbf-8acc-b456014df16f/transcript