Shadow Board calls for substantial tightening over the coming year
February 21, 2022
The Shadow Board is calling for a sharp increase in the official cash rate (OCR) over the coming year in the face of intensifying inflation pressures. Read more
Intense inflation pressures drive calls for higher interest rates
November 22, 2021
The Shadow Board is overwhelmingly calling for a tightening in monetary policy, primarily through higher interest rates. However, this view was not unanimous, with Shadow Board members in the business community who were more cautious about further tightening at the upcoming meeting. T … Read more
Lockdown divides Shadow Board’s views on tightening
October 4, 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. Read more
NZIER’s Shadow Board calls for tightening at the upcoming meeting
August 16, 2021
The Shadow Board overwhelmingly calls for a tightening in monetary policy at the August Monetary Policy Statement, with many noting an OCR increase would be appropriate. That said, there remained a wide range of views amongst the Shadow Board. Recent developments point to a rise in in … Read more
NZIER’s Shadow Board calls for tightening within the coming year
July 12, 2021
There are growing calls amongst Shadow Board members for the Reserve Bank to tighten monetary policy given the pick-up in inflation pressures in the New Zealand economy. Many on the Shadow Board now see a tightening in monetary policy at the upcoming July meeting as appropriate. Beyon … Read more
NZIER’s Shadow Board sees stronger case for tightening
May 24, 2021
While Shadow Board members still considered current monetary settings as appropriate for the upcoming May meeting, attention turns to a tightening in monetary policy over the coming year. In the near term, members pointed to some uncertainty over how sustainable the recovery will be p … Read more
NZIER’s Shadow Board calls for a ‘wait and see’ approach
April 12, 2021
There remains a wide range of views amongst the Shadow Board members on what the Reserve Bank should do with monetary policy. The focus on the housing market has become more intense in recent months, and the recent announcements of policy measures to address house price sustainability … Read more
NZIER’s Shadow Board sees little need for further stimulus
February 22, 2021
In light of recent developments, we have once again revised the format of the views we are seeking from our Shadow Board on what the Reserve Bank should do with monetary policy. Given the Reserve Bank’s growing arsenal of monetary policy tools which includes the Official Cash Rate, qu … Read more
NZIER’s Shadow Board sees less need for further stimulus
November 9, 2020
We are continuing to seek our Shadow Board members’ views on whether the Official Cash Rate (OCR) should be negative and if the Reserve Bank should expand its quantitative easing (QE). Read more
NZIER’s Shadow Board still favour QE over negative OCR for stimulus
September 21, 2020
We are continuing to seek our Shadow Board members’ views on whether the Official Cash Rate (OCR) should be negative and if the Reserve Bank should expand its quantitative easing (QE). Fewer Board members see further quantitative easing as appropriate over the coming year. This follow … Read more