Another cut to the Official Cash Rate next month is looking a lot more likely. 

Latest Stats NZ figures show annual inflation has reached 2.7% in the year to June – up from 2.5% in the year to March. 

But core inflation is tracking much lower, and domestically driven non-tradeable inflation is at a four-year low. 

BNZ Chief Economist Mike Jones told Mike Hosking that it’s a green light for the Reserve Bank. 

He says the chance of not only reaching 3% in annual inflation, but also getting stuck above 3% has reduced, so the bank can probably feel more comfortably in cutting rates. 

LISTEN ABOVE 

Another cut to the Official Cash Rate next month is looking a lot more likely.&nbsp;
Latest Stats NZ figures show annual inflation has reached 2.7% in the year to June – up from 2.5% in the year to March.&nbsp;
But core inflation is tracking much lower, and domestically driven non-tradeable inflation is at a four-year low.&nbsp;
BNZ Chief Economist Mike Jones told Mike Hosking that it’s a green light for the Reserve Bank.&nbsp;
He says the chance of not only reaching 3% in annual inflation, but also getting stuck above 3% has reduced, so the bank can probably feel more comfortably in cutting rates.&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

Mike Jones: BNZ Chief Economist on inflation tracking lower than expected, possible OCR cuts

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/bdc70d66-dbd0-4365-a5ec-b3210158447a/transcript

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