It was a pleasure speaking as part of the Visiting Executives Programme last year, and even more so to have been invited back. Today I want to consider inflation pressures through the lens of the labour market. We have seen some extraordinary developments in the New Zealand labour market over the past three years and these pose challenges to our modelling of inflation pressures.
Moreover, older people are staying active for longer, thanks to the higher life expectancy and good health care. They look after their grandchildren, perform voluntary work and play a full part in society. An obvious path is to stimulate older people to use their active attitude to life to stay on longer in the workplace.