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Podcast: The Mike Hosking Breakfast
Episode: Mike Jones: BNZ Chief Economist on inflation tracking lower than expected, possible OCR cuts
Description: 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...