Nick Tuffley: ASB chief economist on the OCR hike and what it means for inflation - Heather du Plessis-Allan Drive

A glimmer of optimism after the latest Official Cash Rate hike.

The Reserve Bank's pushed the OCR up an unprecedented 75 basis points to the highest level since 2008 at 4.25 percent.

It forecasts it'll peak at 5.5 percent in 2023, with New Zealand entering a shallow recession mid-next year.

But ASB chief economist Nick Tuffley says he anticipates the hike will get on top of inflation.

He says in fact, the Reserve Bank has a surprisingly high view of where inflation will be in the next six to seven months.

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