Michael Reddell: Former Reserve Bank Economist ahead of today's OCR announcement
The Mike Hosking Breakfast · Newstalk ZB
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Show Notes
The Reserve Bank could still surprise us with this afternoon's Official Cash Rate decision.
Interest rates have been falling, with markets pricing in a 50 basis point cut.
But former Reserve Bank economist Michael Reddell says the central bank may opt for another option, like a 25 basis point cut.
He told Mike Hosking when he was on the Monetary Policy Committee that makes the OCR decision, they always received advice on what the market and economists were expecting.
But he says they're never swayed by those decisions, and make their own decisions based on their own forecasts.
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