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

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

28 November 2024
Inflation is now at 2.2 percent -- with weak global demand pushing tradeable inflation down to minus 1.6 percent.

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

But Reserve Bank Assistant Governor Karen Silk says that needs to be brought down to just under three-percent, 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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