Lower rates favoured more than higher by shadow board

Tue, 29 Jan 2013

Jan 30 (BusinessDesk) – The members of a “shadow board” looking over the shoulder of Reserve Bank of New Zealand governor Graeme Wheeler are more in favour of a cut in the official cash rate than a rise. Economists widely expect Wheeler to hold the official cash rate at 2.5 percent on Thursday and that is also the official line of the New Zealand Institute of Economic Research’s (NZIER) shadow board. Ahead of the decision, economists have noted that Wheeler has tough call in weighing a strong property market, fuelled further by the Christchur...

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