Michael Reddell: Former Reserve Bank Economist on the OCR remaining at 5.5%

The Reserve Bank has left the Official Cash Rate where it was as inflation remains higher than target levels.   The OCR remains on hold at 5.5%.  Michael Reddell, a former Reserve Bank economist, told Mike Hosking that there’s pretty good reason to think inflation will be coming down pretty sharply this year.  He said that the Reserve Bank itself said they expect to be within the 1-3% range this year, they just want to be certain before making any cuts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.