Tim Dower: Latest OCR rise further proves the economy will be a major election issue

Early Edition with Ryan Bridge · Apr 5, 2023 · 1m

Another half-percent on the OCR, which was harsher than most pundits had predicted and takes the cash rate to 5.25 percent.

11 hikes in a row now, yet inflation is still painfully high.

The RBNZ says employment is also still beyond what's sustainable and it says recent weather events have pushed some prices even higher.

The fact the economic pundits were caught off guard is more than a bit of a worry.

”No one saw this coming”...that's Imre Speizer at Westpac.

Capital Economics is now picking a protracted recession, saying it'll be so sharp that rates will have to be cut again by the end of…