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Steven Joyce: Former Finance Minister on the likelihood of an OCR cut today
Reserve Bank Governor Adrian Orr is facing a tough decision on whether to cut the Official Cash Rate today.\xa0
Financial markets are pricing in a cut, but economists remain divided on whether that should happen.\xa0
Former Finance Minister Steven Joyce says Orr doesn't want to act too quickly and risk having to backtrack if non-tradable inflation continues to remain high.\xa0
But, he told Mike Hosking, neither does he want to act too slowly and see the economy stagnate or decline.\xa0
Joyce says many businesses are struggling and the energy shortage is going to significantly reduce production in the months ahead.\xa0
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