Stephen Toplis: BNZ Economist says pessimistic business confidence survey findings will end potential OCR hikes

Will the latest business confidence survey findings kill off thoughts of another Official Cash Rate hike? Latest Economic Research Institute data shows 59 percent of businesses expect economic conditions to deteriorate in coming months. That's down from 61 percent last quarter. BNZ Economist Stephen Toplis says he thinks the hikes are over. He says the figures will indicate to the Reserve Bank it's on track for getting inflation where it wants. "And on track to getting the labour market where it wants, so on that basis- why would you hike any further?" LISTEN ABOVESee omnystudio.com/listener for privacy information.