Katlyn Parker: Milford Asset Management portfolio manager on the OCR going up by 50 basis points in wake of Cyclone Gabrielle - Heather du Plessis-Allan Drive

The Reserve Bank has lifted the OCR by 50 basis points to 4.75 percent.

In the lead-up, plenty of people were calling for the Reserve Bank to pause the rate hike in wake of Cyclone Gabrielle.

Milford Asset Management's Katlyn Parker says that both the Finance Minister and Governor of RBNZ agreed that a targeted fiscal policy would best assist with recent tragic events.

Katlyn Parker says that inflation is still running too high and it was important for the RBNZ to stay the course.

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