Kelly Eckhold: Westpac Chief Economist ahead of the Official Cash Rate announcement

An economist believes the Reserve Bank should raise the Official Cash Rate today to control inflation.  The bank will release its first Monetary Policy Statement since war broke out in the Middle East, with most expecting it to hold at 2.25% and not rise until September.  But Westpac Chief Economist Kelly Eckhold told Mike Hosking inflation was already at 3.1% before the war, and we'll likely spend time above 4% this year.  He says six years of this decade will have seen inflation over 3%.  LISTEN ABOVE See omnystudio.com/listener for privacy information.