Barbara Edmonds: Labour's Finance Spokesperson on the OCR falling to 2.5%, inflation

Early Edition with Ryan Bridge

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10d ago 3:23

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The Reserve Bank's cut the OCR 50-basis-points to 2.5%, despite acknowledging inflation is above or almost above where they'd like it.

Finance Minister Nicola Willis says they've factored in broader economic conditions.

She says the central bank clearly thinks any fluctuation in inflation will be constrained by spare capacity in the economy.

Labour's Finance Spokesperson Barbara Edmonds told Ryan Bridge it’s a direct response to the economic damage caused by Christopher Luxon.

She says the economy has gone backwards under the Coalition Government, with 36,000 jobs lost, 2,700 businesses liquidated, and more Kiwis moving overseas.

“Christopher Luxon promised to make it better, but he’s made it worse.”

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