Kelvin Davidson
speaker
1,120 appearances
10 recordings
2 series
first heard Jan 2026
last heard 10 Aug
Kelvin Davidson’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 10 in all, peaking in Mar 2026 with 3.
Appearances
You know, it's not like Stats New Zealand publishes that here's core inflation.
So there's a little bit of judgment in here, a little bit of subjective thing.
I mean, the Reserve Bank has their own measures of what they deem to be core inflation.
Stats New Zealand puts out a couple of measures which they have a name for.
They don't necessarily call it core inflation.
But you're right, in the end, it amounts to kind of taking out stuff that's a bit jumpy, a bit volatile, one-offs, things like that.
So it allows the Reserve Bank to look at sort of a trend measure, if you like, the sort of underlying level of price pressures in the economy.
And that's sort of what matters because, you know, keep in mind their inflation target is over the medium term.
So they're allowed to so-called look through little spikes in inflation for various different things.
And, you know, they can focus on their more medium-term picture
the underlying trend.
And for me also, it's worth keeping in mind that it is a medium term thing.
It's very easy to forget about.
At a certain point in time, everyone's focusing on, oh, well, don't worry, inflation reacts with lags.
So monetary policy works with a lag.
We'll wait for the lags to work through.
Just at the moment, it feels like some of the commentary has forgotten about that.
And, you know, we're all going, oh, 3.1%, it's above target.
Well, gee, you know, let's all sort of start panicking.
Keep in mind there's still lags in the system and it takes a while to flow through.
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