Christina Leung: NZIER principal economist says the Reserve Bank is balancing a lot of factors with OCR rise

Surprise from some economists at the size of the Official Cash Rate rise. The Reserve Bank has lifted the rate by half a percent, to 1.5 percent. NZIER principal economist, Christina Leung, says she thought there was a 50/50 chance of the rise being 50 basis points. But she told Mike Hosking the central bank is balancing a lot of different factors. Leung says there's a surge in inflation pressures, but there's also uncertainty from how the Covid-19 outbreak will evolve, and the war in Ukraine. LISTEN ABOVESee omnystudio.com/listener for privacy information.