New Zealand - RBNZ shadow board split on Reserve Bank interest rate cut ...Middle East

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New Zealand - RBNZ shadow board split on Reserve Bank interest rate cut
The New Zealand Institute of Economic Research (NZIER) runs a 'shadow board' of analysts. The Shadow Board is independent of the RBNZ and does not represent what the RBNZ is going to do but rather what their view is that the RBNZ should do. That is, the Shadows do not preview what they think will happen, but what they think should happen. From their report, in brief:The NZIER Shadow Board is divided over whether the Reserve Bank of New Zealand (RBNZ) should decrease the Official Cash Rate (OCR) in the upcoming August Monetary Policy Statement. Over half of the Shadow Board members viewed that a 25 basis-point decrease in the OCR is needed now, given the continued slowing in the New Zealand

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