Warnings the New Zealand economy must be re-balanced
Warnings the New Zealand economy must be re-balanced
10 August 2023
Westpac's latest overview finds that while inflation's fallen - now at six-percent - it's failing to drop as quickly as anticipated.
Its chief economist says lowering it below three percent will require a reasonably long-period of negative growth.
Kelly Eckhold says the Reserve Bank will need to do some additional interest rate increases.
He says they forecast a further 25 basis-point increase in the OCR to 5.75 percent in November - which will remain relatively high until next August.
© 2024 Newstalk ZB, NZCity