Michael Reddell: Former RBNZ economist says when the RBNZ tries to significantly reduce inflation, it's a recipe for recession

The looming recession could cut deeper than previously thought. ASB is now forecasting the economy will shrink by about two-percent by early next year, double the contraction it was forecasting three months ago. Former Reserve Bank economist Michael Reddell says its a plausible prediction. He told Tim Dower every time the Reserve Bank tries to significantly reduce inflation, it's a recipe for recession. Reddell says every time inflation has been brought down so quickly in the past, it's led to a recession, usually a severe one. LISTEN ABOVESee omnystudio.com/listener for privacy information.