"Doesn't help": Kiwibank urges Reserve Bank to hold off on hiking interest rates
Follow
the podcast on
Kiwibank is warning the Reserve Bank against hiking interest rates.
It's picking a 25 basis point increase to the Official Cash Rate, bringing it to 2.75%, then 3% later this year.
But with unemployment up, wage growth around 2%, and weak housing, it argues rates should stay put.
Chief Economist Jarrod Kerr told Mike Hosking we need the economy to recover, and rising rates don't help that.
He says they understand the Reserve Bank is worried about the recent spike in inflation and want to be on the front foot, but they believe we should be more reactive.
LISTEN ABOVE
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeart app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeart is easy to use and all FREE
