Expectations, cuts to the Official Cash Rate are now going to keep on coming
Expectations, cuts to the Official Cash Rate are now going to keep on coming
19 September 2024
Yesterday's Stats NZ figures show our GDP contracted 0.2 percent in the three months to June.
In the March quarter, 0.1 percent growth was recorded.
ASB Chief Economist Nick Tuffley says the numbers show inflation's falling within the Reserve Banks expectations.
He says they're now going to continue cutting the OCR, to get it from 5.25 percent to around three percent.
Tuffley says if they cut a quarter every meeting, we'll reach that target by October next year.
© 2024 Newstalk ZB, NZCity
