• Karen Silk: Reserve Bank Assistant Governor talks domestic inflation, OCR cuts

  • Nov 27 2024
  • Length: 7 mins
  • Podcast

Karen Silk: Reserve Bank Assistant Governor talks domestic inflation, OCR cuts

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  • Summary

  • The Reserve Bank remains concerned about domestic inflation as it points to more OCR cuts next year following the latest 50 basis point cut.

    Inflation is now at 2.2%, with weak global demand pushing tradeable inflation down to -1.6%.

    But non-tradeable inflation —things like insurance, rates, power and rents— remains at 4.9%.

    Reserve Bank Assistant Governor Karen Silk told Mike Hosking that needs to be brought down to just under 3%, which is where it's historically sat.

    She says this type of inflation, which is less responsive to monetary policy, remains persistent.

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