Kelly Eckhold

You generally don't get temperature records just one day and that's it, like a flash temperature record.

So yesterday, very, very hot.

Today, just that tiny bit hotter.

And of course, we could see a few late results of temperatures getting even higher.

Even coming into this war, we had inflation at 3.1%, which obviously would have been disappointing for the bank.

And the forecast suggests that we'll spend this year above 4% now.

So that will mean that if you think about this decade, six years in this decade, four of them will be inflation over 3%.

So probably not making that much difference really at the margin.

That's why, you know, for example, inflation is at 3.1% in the March quarter when it really should be closer to, probably should be under 2% realistically, Mike, given how weak the economy has been in the last couple of years.

And, you know, that's just evidence of, you know, Wayne Brown, he had the opportunity here to make deeper cuts and give us a lower rate rise, but he doesn't feel the pressure.

He doesn't feel the pressure because he's got pricing power and too many of us are quite comfortable in paying it.

And that does happen in New Zealand.

It has happened in New Zealand from time to time in the last few years.

What that just causes is a short downtick in inflation relative to what you're expecting.

But then you're right back to the usual service usually quickly after that.

One horse-sized duck, because Christopher Luxon is a sitting duck, and we are coming for you.

So, it was a light-hearted part of the afternoon, and we got that question from the audience earlier.

There's an audience.

Well, it's from your moderator.

Yeah, no, it wasn't.