Mark Mitchell

Well, here we go.

Battle of the banks.

ANZ yesterday with their call on three cash rate rises starting July, ending at 3%.

ASB beg to differ a bit.

They start later, end higher at 3.5% middle of next year.

And now Kiwibank weighs in with the word.

I think the word was reckless if the RB goes ahead.

Jared Kerr is the Kiwibank chief economist and is with us.

Jared, morning.

Good morning.

So how many rises have you gotten over what period of time?

So you've got the RB looking through a lot of stuff this year?

Absolutely.

It's going to take a lot of time to assess the damage of what we're seeing at the moment.

But inflation's inflation.

If it comes in at a number, and we'll get several reads this year obviously, how long do they look through what is reality in the hope that they can do something about it next year?

Well, there's temporary inflation, which is the spike in diesel, and we kind of hope that that falls back.

And then there's more persistent stuff, you know, wage inflation, rental inflation, and all that's quite benign at the moment, Mike.

So we're going through quite a sharp spike in temporary inflation.

and the Reserve Bank targets the medium term.