Podcasts Other The Mike Hosking Breakfast Darren Gibbs: Westpac Senior Economist says that sticky inflation is to blame for an OCR cut not happening until next year

Darren Gibbs: Westpac Senior Economist says that sticky inflation is to blame for an OCR cut not happening until next year

Published: Jan. 30, 2024, 9:35 p.m.

High inflation in certain parts of the economy is dashing hopes of a cut in the OCR. \xa0

Reserve Bank Chief Economist Paul Conway says that despite overall inflation being at 4.7%, non-tradable inflation is still high at 5.9%.\xa0

Westpac Senior Economist Darren Gibbs told Mike Hosking that they expected an OCR cut to occur in February of next year, and that didn\u2019t change after the announcement. \xa0

He said that they think due to some elements of domestic inflation being quite sticky, it will take longer for inflation to decline than other economists predict.\xa0

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