Rising unemployment is expected to add to the case for a lower OCR. 

Unemployment's hit a five-year high of 5.2% and is expected to rise further. 

Economists now broadly expect the Reserve Bank to cut the Official Cash Rate by another 25-basis-points to 3% in two weeks. 

BNZ Chief Economist Mike Jones told Mike Hosking further cuts now seem likely. 

He says his team have been forecasting a neutral rate of 2.75% for years, but there's a chance the OCR could get to 2.5 percent in the current cycle. 

LISTEN ABOVE 

Rising unemployment is expected to add to the case for a lower OCR.&nbsp;
Unemployment's hit a five-year high of 5.2% and is expected to rise further.&nbsp;
Economists now broadly expect the Reserve Bank to cut the Official Cash Rate by another 25-basis-points to 3% in two weeks.&nbsp;
BNZ Chief Economist Mike Jones told Mike Hosking further cuts now seem likely.&nbsp;
He says his team have been forecasting a neutral rate of 2.75% for years, but there's a chance the OCR could get to 2.5 percent in the current cycle.&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 the unemployment rate rising to 5.2%, expected OCR cut

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3e08846f-f8a7-4c67-9352-b331016c371c/transcript