Expert on OCR's eigth hike in a row

The Official Cash Rate has been lifted for the eighth consecutive time, up 50 basis points to 3.5 percent. The hike was expected as the Reserve Bank attempts to combat rising inflation.
Infometrics chief forecaster Gareth Kiernan says he has some concerns about the messaging coming from the Reserve Bank.
He says the statements are focused on the here and now, and there are few signs of the bank's long-term thinking.