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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d825681f-b73c-4e62-81fc-b2eb005d3d2a/transcript