Brad Olsen: Infometrics Principal Economist warns the RBNZ will need to slash the OCR quicker to keep up with inflation

Heather du Plessis-Allan Drive

There's pressure growing for the Reserve Bank to move more aggressively on the Official Cash Rate.

New Zealand's inflation rate is officially back on target, at 2.2 percent.

Infometrics Principal Economist Brad Olsen says that although the Reserve Bank has recently cut the OCR - it's still higher than it should be.

He says the Bank probably needs to slash the rate faster than it originally intended.

"It does open that strong possibility of a 75 basis point cut in November - because they'll be taking a 12-week break over summer."

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