Nicola Willis: Finance Minister on the cut to the Official Cash Rate, the economy
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Nicola Willis: Finance Minister on the cut to the Official Cash Rate, the economy
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About this listen
The Finance Minister believes the country is in a position to grow.
The Reserve Bank believes the economy has now turned a corner after last month's 50-basis-point cut to the OCR.
It's cut the cash rate a further 25-basis-points to 2.25%, but is signalling further cuts are unlikely.
Nicola Willis told Ryan Bridge that while the data lags make things difficult, there is enough other information to give them a sense of where the economy is at.
She says it’s allowed the Reserve Bank to be confident in their forecast that the economy is growing and that growth will strengthen next year, and inflation will come down.
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