GDP figures could end rising interest rates: economist

An economist says the latest GDP figures could signal an end to rising interest rates - at least in the short term. The figures show the country is in a technical recession, with negative growth of 0.1 percent over the March quarter, after a fall in GDP in the December quarter of 0.6 percent. Stephen Toplis, economist and head of research at the BNZ. describes the economy as flat, with inflation clearly on the way down - making a rate rise in August, when the OCR is next reviewed, unlikely. He spoke to Corin Dann.