RBNZ policy meeting this week – shadow board evenly split on tighter policy

The Reserve Bank of New Zealand monetary policy meeting is July 14.

  • The statement will be at 0200 GMT

The New Zealand Institute of Economic Research (NZIER) runs a ‘shadow board’ of analysts. The Shadow Board is independent of the RBNZ and does not represent what the RBNZ is going to do but rather what their view is the RBNZ should do. 

I bolded some of that preceding sentence, in summary the Shadows do not preview what they think will happen, but what they think should happen. 

From the NZIER:

  • Many on the Shadow Board now see a tightening in monetary policy at the upcoming July meeting as appropriate. Beyond that, an overwhelming majority thinks monetary policy should be tightened within the coming year.

“Many” on the shadow board is half of them according to this breakdown provided:

The Reserve Bank of New Zealand monetary policy meeting is July 14.

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