Why New Zealand wages are falling behind

The Official Cash Rate has risen for the first time in three years — but does that mean mortgage rates are about to climb too? Tamsyn Parker is joined by NZ Herald Wellington Business Editor Jenée Tibshraeny to unpack the OCR hike, the risk of inflation becoming embedded and why fixed-term borrowers may not feel the impact immediately. They also examine an OECD report suggesting New Zealand’s real wages are near the bottom of the developed world, why workers are struggling to negotiate pay rises, and whether restrictive employment contracts are holding back productivity. Plus, thousands of properties could carry a hidden natural-hazard warning that may affect insurance claims, renovations and even the ability to secure a mortgage. The Economy of Everything is brought to you with the help of CMC Markets.See omnystudio.com/listener for privacy information.