00:00More people are relying on charities to get by as household budgets stretch far beyond
00:07their means.
00:08Yeah, everything's gone up, cost of living is crazy, I mean cost of gas, petrol is ridiculous.
00:16The Reserve Bank says that prices are staying higher than they'd like.
00:20We just think the economy's running a little bit hotter than we thought previously.
00:23I think it's going to take a little bit longer for inflation to get back to target.
00:27So if the economy's running a little bit hot, what can be done about it?
00:32We have, very broadly speaking, one lever, and it is a very blunt one, it's interest
00:36rates.
00:37Which the Central Bank now says will stay higher for longer.
00:41I think it's hard to sustain an argument that the economy is running too hot or that people
00:46have too much spare cash given all of the data and all of the feedback that we get,
00:51which shows that's not the case.
00:52From our perspective, we're setting policy for the aggregate and that's what's really,
00:56really challenging because we know about the group that are struggling there.
00:59Charities like this are helping people from all walks of life.
01:04People who can't afford rising rents, people sleeping on the streets, and increasingly
01:08people with higher mortgages.
01:10The question is, how much longer can all of these people hang on?
01:15I understand economists and the way that they speak, but the impacts that they have on people
01:21are tangible, they're real, and they hurt.
01:26And they're hurting too many people.
01:28To be told you're just an aggregate doesn't help put food on the table.
01:32And that's the real story here as politicians and bankers debate the data.
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