Sir John Key: Former Prime Minister on the GDP contracting 0.9% - The Mike Hosking Breakfast

Sir John Key says the Reserve Bank deserves much of the blame for the latest sharp drop in GDP. 

Our economy's contracted 0.9% in the June quarter. 

The Government says international turmoil and uncertainty over tariffs have driven the fall, which was much larger than expected. 

Key told Mike Hosking the OCR was also a major factor. 

He says two months ago he was criticised for calling for the OCR to come down 100-basis points, but that will probably now happen by Christmas. 

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