The Reserve Bank's throwing a bit of cold water on the economy
The Reserve Bank's throwing a bit of cold water on the economy
6 October 2021
It's increased the Official Cash Rate to half a percent, the first change in more than 18 months.
Cameron Bagrie from Bagrie Economics says it's made the change because we're at near full employment, inflation's heading towards four percent, and there's a booming property market.
He says the Reserve Bank is saying it's time to turn down the heat.
Bagrie says they're not tightening the screws on the economy though, because an OCR of 0.5 percent is still incredibly low.
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