NZIER’s Shadow Board sees stronger easing bias as appropriate

NZIER’s Monetary Policy Shadow Board have lowered their recommendation for the OCR but remained centred on a no-change decision for Wednesday. There was a wide range of views this time, and NZIER Shadow Board members distinguished between their views on what they think the Reserve Bank will do, versus what it should do. Nonetheless, there was a stronger easing bias amongst the NZIER Shadow Board, relative to June.