Has the Reserve Bank gone too far with engineering a recession?

Further cuts to the Official Cash Rate are now all but guaranteed, with inflation back within the target range, at 2.2 percent.

ASB Senior Economist Mark Smith expects the OCR to land at 3.25 percent some time next year.

He says the Reserve Bank is at risk of acting too slowly, contributing to sizeable job losses and a sluggish and slow-moving economy.

Smith says the foot needs to come off the brake pedal, now inflation is settling around two-percent.