Reserve Bank Governor Anna Breman discusses the impact of global supply chain disruptions and the war on inflation, the need for greater transparency in monetary policy, and the cautious recovery of consumer and business confidence in New Zealand.
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Yeah, I think they probably should be raising rates today. Um even coming into this war, we had inflation at 3.1%, which is um obviously would have been disappointing for the bank. And the forecast suggests that we'll spend this year above four percent now. Um so that will mean that if you think about this decade, six years in this decade, four of them will be inflation over three percent, and actually I think they're all over four percent. So there's like a whole tribe of young New Zealanders probably been working for three or four years, don't even know what two percent inflation looks like.
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a broad, unavoidable cost shock
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Anna Breman: Reserve Bank Governor on whether the Middle East conflict could drive up the OCRSpotted something wrong on this page? Report a correction.
