Michael Reddell: former Reserve Bank economist on the Reserve Bank cutting the cash rate by 25 basis points
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
It's the start of a significant turnaround for the economy - as the Reserve Bank slashes the OCR for the first time since 2020.
It's dropped the cash rate 25-basis points to 5.25 percent.
Former Reserve Bank economist, Michael Reddell says Governor Orr's post-announcement claims about the economy don't stack up.
"It's not as if some big event has happened externally, it's just that they badly misread what was going on in the economy - and it's pretty inexcusable."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.