Lockdown divides Shadow Board’s views on tightening

04 October 2021

The Shadow Board has become divided over its views on what should happen with monetary policy at the October Monetary Policy Review. This is due to the ongoing lockdown in Auckland to contain the COVID-19 community outbreak and heightened uncertainty over the economic outlook.

Shadow Board members in the business community highlighted the negative impact of the latest lockdown on businesses, with small to medium businesses hit particularly hard. This led to some Shadow Board members calling for monetary policy to be left unchanged at the upcoming meeting. Read the full release here.

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