Latest publications / Shadow Board (2)

NZIER’s Shadow Board calls for tightening within the coming year

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

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

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

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

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

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

NZIER’s Shadow Board considers negative OCR unnecessary

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 continues to favour further QE over a negative OCR

There remains a wide range of views amongst the Shadow Board on whether more monetary policy stimulus is required, and in what form. Overall, the consensus amongst the Shadow Board is that more stimulus would be required over the next twelve months, with the majority favouring an expa … Read more

NZIER’s Shadow Board favours further QE over negative OCR

The significant changes in monetary policy implementation in recent weeks in response to the effects of the COVID-19 outbreak has led us to revamp the format of our Shadow Board reporting. The Reserve Bank of New Zealand (RBNZ) on 16 March 2020 announced it was undertaking an emergenc … Read more

NZIER’s Shadow Board recommends no change under coronavirus cloud

There remains a wide range of views amongst the NZIER Policy Shadow Board on the appropriate level of the OCR at the Monetary Policy Statement (MPS) release on Wednesday. Although Shadow Board members acknowledged the positive developments in the New Zealand economy, the recent corona … Read more

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