Gareth Kiernan: Infometrics Chief Economist says the Reserve Bank has needed to increase the Official Cash Rate for a while
Early Edition with Ryan Bridge · Newstalk ZB
April 13, 20223m 15s
Audio is streamed directly from the publisher (pdst.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
One economist says the Reserve Bank has needed to increase the Official Cash Rate for a while.
It's gone from one to 1.5 percent.
Infometrics Chief Economist, Gareth Kiernan, welcomes the central bank coming to the party, and realising we don't need interest levels so low.
He told Kate Hawkesby the housing market's been running rampant and there's been strong household spending.
Kiernan says that was great when we thought Covid was going to hammer the economy, but that hasn't happened.
He's been looking at the low unemployment rate and the housing market for the last nine months or so, saying something's got to change.
LISTEN ABOVE
It's gone from one to 1.5 percent.
Infometrics Chief Economist, Gareth Kiernan, welcomes the central bank coming to the party, and realising we don't need interest levels so low.
He told Kate Hawkesby the housing market's been running rampant and there's been strong household spending.
Kiernan says that was great when we thought Covid was going to hammer the economy, but that hasn't happened.
He's been looking at the low unemployment rate and the housing market for the last nine months or so, saying something's got to change.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.