It takes more than one recession to tame inflation
‘Inflation is no-one’s friend and we are getting rid of it,’ Adrian Orr says.
The Reserve Bank has surprised some economists by cutting the OCR to 5.25%.
Reserve Bank governor Adrian Orr was a relieved man when he walked into his monetary policy news conference yesterday.
The bank had just announced it was cutting the official cash rate from 5.50% to 5.25%, confident that inflation was now moving back into its target band of 1-3%.
But the price is
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