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

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

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/8ccec844-060c-4ff6-8abb-b43c006b2a97/transcript