Podcasts Other The Mike Hosking Breakfast Steven Joyce: Former Finance Minister on the ongoing struggles with inflation

Steven Joyce: Former Finance Minister on the ongoing struggles with inflation

Published: Jan. 29, 2024, 7:33 p.m.

It\u2019s being predicted that\xa0interest rates won't be going down for some time.\xa0

Despite inflation in line with expectations of 4.7%, non-tradable inflation is still high at 5.9%. \xa0

The Reserve Bank is also contending with slow employment growth, weaker business investment, and weaker global growth.\xa0

Former Finance Minister Steven Joyce told Mike Hosking that ongoing struggles with non-tradable inflation will keep interest rates higher for longer.\xa0

He says they might change interest rates earlier in the year, but if they do, the risk is they'll have to reverse course as the year goes on.\xa0

Reserve Bank Chief Economist Paul Conway will deliver a keynote speech on the economy this morning.\xa0

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