Craig Renney: Trade Unions economist would like to see OCR increases paused, so people can get used to it

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Recorded05 Apr 2023

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A claim has come that the Official Cash Rate increase will continue to hit pockets and stretch incomes The Reserve Bank has shocked many by hiking the OCR 50 basis points to 5.25 percent. Council of Trade Unions economist Craig Renney would like to see increases paused, so people can get used to it. He told Tim Dower lots of people are facing multiple economic strains at once. Renney says many are facing increasing mortgages on top of existing cost of living concerns. LISTEN ABOVE See omnystudio.com/listener for privacy information.

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