Majority of the Shadow Board members recommend keeping the OCR on hold in May
May 25, 2026
There is a split of views amongst the NZIER Monetary Shadow Board regarding the Official Cash Rate (OCR) at the upcoming May Monetary Policy Statement. The majority of Shadow Board members recommend the Reserve Bank of New Zealand (RBNZ) keep the OCR at 2.25 percent. They viewed that … Read more
Shadow Board is overwhelmingly in favour of keeping the OCR at 2.25 percent in April
April 7, 2026
New Zealand Institute of Economic Research (Inc) Media Release, 10 am Tuesday, 7 April 2026 For immediate release Read more
Shadow Board recommends that the Reserve Bank keep the OCR on hold in February
February 16, 2026
New Zealand Institute of Economic Research (Inc) Media Release, 10 am Monday, 16 February 2026 Read more
Shadow Board recommends a further 25 basis-point OCR cut in November
November 24, 2025
The majority of members in the NZIER Monetary Policy Shadow Board recommend that the Reserve Bank of New Zealand (RBNZ) reduce the OCR by 25 basis points to 2.25 percent in the upcoming November Monetary Policy Statement. With the New Zealand economy starting to recover from a low bas … Read more
Majority of Shadow Board members recommend a 25 basis-point OCR cut in October
October 6, 2025
The NZIER Monetary Policy Shadow Board recommends that the Reserve Bank of New Zealand (RBNZ) 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 … Read more
Majority of Shadow Board members recommend a 25 basis-point OCR cut in August
August 18, 2025
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 … Read more
Shadow Board recommends the Reserve Bank pause OCR cut in July
July 7, 2025
New Zealand Institute of Economic Research (Inc) Media Release, 10 am Monday, 7 July 2025 For immediate release Read more
Shadow Board recommends the Reserve Bank cut the OCR by 25 basis points in May
May 26, 2025
The NZIER Monetary Policy Shadow Board recommends that the Reserve Bank of New Zealand (RBNZ) should cut the OCR in the upcoming May Monetary Policy Statement, with almost half of the Shadow Board members recommending a 25 basis-point OCR cut. One member recommended a 50 basis-point c … Read more
Shadow Board recommends an OCR cut of 25 basis points in April
April 7, 2025
New Zealand Institute of Economic Research (Inc) Media Release, 10 am Monday, 7 April 2025 Read more
Shadow Board recommends a 50 basis-point OCR cut in February
February 17, 2025
New Zealand Institute of Economic Research (Inc) Media Release, 10 am Monday, 17 February 2025 Read more