A former senior economist at the Reserve Bank is calling releasing details of who voted which way on the Official Cash Rate a 'baby step'.

It's been agreed by the Minister of Finance and the Monetary Policy Committee that vote details will be released publicly if committee members are unable to come to consensus on the OCR.

The charter comes into effect today. 

Michael Reddell says it's fairly rare for the committee not to come to a consensus, but it's a good step. 

"So I'm not criticising it, it's just that it's not a particularly bold move."

LISTEN ABOVE

A former senior economist at the Reserve Bank is calling releasing details of who voted which way on the Official Cash Rate a 'baby step'.
It's been agreed by the Minister of Finance and the Monetary Policy Committee that vote details will be released publicly if committee members are unable to come to consensus on the OCR.
The charter comes into effect today.&nbsp;
Michael Reddell says it's fairly rare for the committee not to come to a consensus, but it's a good step.&nbsp;
"So I'm not criticising it, it's just that it's not a particularly bold move."
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

Michael Reddell: former Reserve Bank economist on the Reserve Bank disclosing individual Monetary Policy Committee members’ views on OCR decisions

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/65613b73-3e8b-4550-8a6b-b43c006b2c59/transcript