NZIER’s Shadow Board adjusts OCR recommendation in the wake of cut

NZIER’s Monetary Policy Shadow Board has adjusted their recommendation in the wake of the Reserve Bank’s OCR cut in May. The NZIER Shadow Board recommends the Reserve Bank should leave the OCR on hold at the OCR Review on Wednesday. However, there have been mixed views as to whether the OCR should have been cut in the first place. Nonetheless, an easing bias remains amongst the NZIER Shadow Board.