The Reserve Bank’s forecast recession could easily turn into another economic accident, Kiwibank’s economists say. They have updated their forecasts in line with the more pessimistic approach taken by the Reserve Bank in its most recent official cash rate (OCR) update. The central bank said it expected the official cash rate to need to peak higher to bring inflation under control, and for the country to go through a year-long recession, starting in the second quarter of next year. Kiwibank’s economists, chief economist Jarrod Kerr, senior economist Jeremy Couchman and economist Mary Jo Vergara, said the Reserve Bank ... (full story)