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Nick Tuffley: ASB Chief Economist says that the OCR will likely continue to be cut in the wake of the GDP slump
Manage episode 440777322 series 2098280
There are expectations that cuts to the Official Cash Rate are now going to keep on coming.
Yesterday's Stats NZ figures show our GDP contracted 0.2% in the three months to June.
In the March quarter, 0.1% growth was recorded.
ASB Chief Economist Nick Tuffley says the numbers show inflation's falling within the Reserve Banks expectations.
He told Ryan Bridge they're now going to continue cutting the OCR to get it from 5.25% to around 3%.
Tuffley says if they cut a quarter every meeting, we'll reach that target by October next year.
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3146 odcinków
Manage episode 440777322 series 2098280
There are expectations that cuts to the Official Cash Rate are now going to keep on coming.
Yesterday's Stats NZ figures show our GDP contracted 0.2% in the three months to June.
In the March quarter, 0.1% growth was recorded.
ASB Chief Economist Nick Tuffley says the numbers show inflation's falling within the Reserve Banks expectations.
He told Ryan Bridge they're now going to continue cutting the OCR to get it from 5.25% to around 3%.
Tuffley says if they cut a quarter every meeting, we'll reach that target by October next year.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
3146 odcinków
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