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

The NZIER Monetary Policy Shadow Board recommends that the Reserve Bank of New Zealand continue to cut the OCR in the upcoming October Monetary Policy Review, with the majority of members recommending a 25 basis-point cut. This reflects the view that excess capacity in the New Zealand economy provides scope for a small cut to support a recovery in activity without affecting the inflation outlook.