NZIER’s Shadow Board sees no OCR change as appropriate but highlights downside risks
08 March 2016
NZIER’s Monetary Policy Shadow Board recommends the Reserve Bank holds the interest rate at 2.50 percent in its Official Cash Rate announcement this Thursday.
“The Reserve Bank is having to balance increased uncertainty over the global outlook and a weak inflation environment against solid momentum in the New Zealand economy and continued strength in asset prices. The recent lift in the NZD has effectively tightened monetary policy settings and will pose challenges for exporters.” said Christina Leung, Senior Economist at NZIER.
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