Inflation and unemployment forceast to rise

The Reserve Bank's economic report card is out. Wholesale interest rates dropped 25 basis points to 3%, but inflation us expected to rise to 3% in September and hit its 2% sweet spot until mid next year. Unemployment is also expected to grow, according to reserve bank forcasts the unemployment rate won't get below 5% until December 2026. Kiwibank chief economist Jarrod Kerr spoke to Lisa Owen.