Anna Breman: Reserve Bank Governor on why the Reserve Bank kept the OCR on hold at 2.75 percent

About this episode

The Reserve Bank Governor is defending voting to keep the Official Cash Rate unchanged for another six weeks. Three members of the Monetary Policy Committee voted to hike the rate to 3 percent. But four - including Governor Anna Breman - opted to stick at 2.75 percent. Breman says the effects of high fuel prices haven't been as severe as feared. "We've seen the indirect effects, so how fuel prices have affected other kinds of prices, like transport and food prices and things like that - those effects have actually been a bit weaker than we thought." LISTEN ABOVE See omnystudio.com/listener for privacy information.