Reserve Bank hikes OCR in effort to avoid "persistently high" inflation
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The Reserve Bank Governor's defending the latest hike to the Official Cash Rate.
The central bank's raised the cash rate another 25-basis-points to 2.75%.
Anna Breman says they'll need to assess the impact of the past two OCR hikes before deciding whether to hike again.
But she told Mike Hosking yesterday's hike was needed to rein in high inflation.
She says if the OCR had been left unchanged yesterday, the Reserve Bank may have had to act much more aggressively later.
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