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29 May 2024 18:30
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  •   Home > News > Business

    The Reserve Bank may have to make some unpopular decisions

    The Reserve Bank may have to make some unpopular decisions


    Inflation remains higher than the central bank expected -- dropping from 4.7 percent in December to four-percent in March.

    And non-tradable inflation -- on things like rents and rates that don't face foreign competition -- remains much higher than expected, dropping only slight from 5.9 percent to 5.8.

    Former Finance Minister Steven Joyce says the Reserve Bank is going to have to keep the Official Cash Rate higher for longer, despite the toll it's taking on people around the country.

    He says there's plenty of evidence of people, businesses and communities hurting, but no one is going to thank the Reserve Bank if it cuts prematurely, and inflation rises again.

    © 2024 Newstalk ZB, NZCity

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     Today's News

    Entertainment:
    Geezer Butler had to leave out pages and pages of tales from his memoir to avoid being "sued" 18:17

    Rugby:
    A group of All Blacks will get back on the park this weekend for Super Rugby sides after layoffs 18:17

    Cricket:
    Australian cricket selector and fielding coach forced to play in Twenty20 World Cup warm-up 18:17

    Business:
    Smith and Caughey's chair says a culmination of issues are forcing them to shut up shop 18:07

    Environment:
    Blustery winds are still causing trouble across the upper North Island -- and a wave of thunderstorms is sweeping across Auckland 17:57

    Entertainment:
    Shania Twain has "a lot of" emotional and physical scars" 17:47

    Entertainment:
    Trevor Noah finds it "strange" when celebrities try to be friends with each other just because they are famous 17:17

    Rugby League:
    Worries persist within New South Wales Origin camp after halfback Nicho Hynes failed to test out a troublesome calf injury in their first training session 17:17

    Law and Order:
    Police are asking for information - with serious concerns about a 41-year-old tourist from China, missing in Christchurch 16:57

    Entertainment:
    Kerry Katona "can't cope" as her children have started to move out 16:47


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