Kelly Eckhold: Westpac chief economist defends the bank hiking fixed rates
Heather du Plessis-Allan Drive · Newstalk ZB
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
A signal from the Reserve Bank's led Westpac to hike rates - and one economist expects other banks could follow.
Westpac lifted two five-year fixed rates by 30 basis points yesterday.
The bank's chief economist, Kelly Eckhold, says it seems the Reserve Bank's unlikely to cut the OCR again any time soon.
"We kind of expected that they would cut the rate by 25 basis points, but we didn't expect them to call time on the easing cycle. It sort of scared the markets a little bit."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.