The Reserve Bank's Monetary Policy Committee revealed it failed to reach a consensus today - before they voted to cut the OCR 25 basis points to 3.25 percent.

But Westpac Chief Economist Kelly Eckhold says that's surprising.

He explained that the fact someone is prepared to put their hand up and say they wouldn't support the move shows it was more a line-ball call than they were expecting.

LISTEN ABOVE

The Reserve Bank's Monetary Policy Committee revealed it failed to reach a consensus today - before they voted to cut the OCR 25 basis points to 3.25 percent.
But Westpac Chief Economist Kelly Eckhold says that's surprising.
He explained that the fact someone is prepared to put their hand up and say they wouldn't support the move shows it was more a line-ball call than they were expecting.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Kelly Eckhold: Westpac Chief Economist weighs in on latest OCR cut

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a242a7dc-0c5e-45e9-bf82-b2eb005d48a7/transcript