The Reserve Bank and economists are at odds over interest rate predictions
The Reserve Bank and economists are at odds over interest rate predictions
25 May 2023
The Official Cash Rate was lifted 25 basis-points yesterday to 5.5 percent, and Governor Adrian Orr says expects that's its peak.
But economists from at least two major retail banks refuse to back down on forecasts of more increases.
Westpac chief economist Kelly Eckhold says our population is expected to grow about 2.5 percent in the next year.
He says it's the highest level since 1961 - and they're anticipating flow through impacts on the housing and rental market, goods and services.
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