Latest publications / Shadow Board

Shadow Board recommends another large OCR hike in November to reduce domestic inflation pressures

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Shadow Board members recommend another 50 basis points increase in October and further tightening necessary

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Shadow Board recommends the Reserve Bank hikes the OCR by 50 basis points in August and follow up with further tightening

New Zealand Institute of Economic Research (Inc) Media release For release 10 am Monday, 15 August 2022 There was a range of views amongst the Shadow Board members on what the Reserve Bank of New Zealand should do with the Official Cash Rate (OCR) over the coming year. However, the ma … Read more

Shadow Board members recommend the Reserve Bank gets on with OCR increases

The widely held view amongst the Shadow Board is that the Reserve Bank of New Zealand should increase the Official Cash Rate (OCR) by 50bp at the upcoming meeting in July. Only one member from the business community was divided on whether such a large hike was necessary at the next me … Read more

Shadow Board members differ in views on the extent of interest rate increases

New Zealand Institute of Economic Research (Inc) Media release For release 10 am Monday, 23 May 2022 There is a wide range of views within the Shadow Board over how much the Reserve Bank should increase interest rates, particularly for the coming year. The majority view amongst Shadow … Read more

Shadow Board is divided over whether the RBNZ should hike by 50bp

The Shadow Board is sharply divided over how much the Reserve Bank should increase the Official Cash Rate (OCR) at the April meeting, with views split over whether the OCR should increase by 25 or 50 basis points. The surge in inflation pressures has led to growing calls for the Reser … Read more

Shadow Board calls for substantial tightening over the coming year

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

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

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

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

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