Majority of Shadow Board members recommend a 25 basis-point OCR cut in August

Regarding what the Reserve Bank of New Zealand (RBNZ) should do at the upcoming August Monetary Policy Statement, the NZIER Monetary Policy Shadow Board’s view ranged from a 50 basis-point OCR cut to no change. However, the majority recommended a 25 basis-point cut to bring the OCR to 3 percent.