Brad Olsen: Infometrics senior economist says Reserve Bank should increase Official Cash Rate by half a percent

The Reserve Bank's being told to be more proactive when it comes to the Official Cash Rate. It's expected to lift the rate this afternoon in a bid to combat runaway inflation. The OCR's currently 0.75 percent and commentators think it will go up by a quarter or half a percent. Infometrics senior economist, Brad Olsen, told Mike Hosking the Reserve Bank should put the rate up by half a percent to address inflation and labour market pressures. “And if the Reserve Bank doesn’t get in front of it, they may have to hike a lot faster, a lot more aggressively that would put everyone in a much more uncertain position.” LISTEN ABOVESee omnystudio.com/listener for privacy information.