Economists' uncertainty regarding the Reserve Bank's upcoming Official Cash Rate moves speaks to how inconsistent its messaging has been. 

Stats NZ data has the unemployment rate at 4.6% in the June quarter, up from 4.4% in March. 

It's one factor the Reserve Bank considers when weighing up whether to cut the Official Cash Rate.

Infometrics principal economist Brad Olsen told Mike Hosking a couple of banks are picking an August cut, others November, and some think next year. 

He says it's not that they're looking at the economic data and drawing different conclusions, they're looking at the data and wondering what on earth the Reserve Bank will do.

LISTEN ABOVE

Economists' uncertainty regarding the Reserve Bank's upcoming Official Cash Rate moves speaks to how inconsistent its messaging has been.  
Stats NZ data has the unemployment rate at 4.6% in the June quarter, up from 4.4% in March.  
It's one factor the Reserve Bank considers when weighing up whether to cut the Official Cash Rate. 
Infometrics principal economist Brad Olsen told Mike Hosking a couple of banks are picking an August cut, others November, and some think next year.  
He says it's not that they're looking at the economic data and drawing different conclusions, they're looking at the data and wondering what on earth the Reserve Bank will do. 
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

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Brad Olsen: Infometrics Chief Economist on the inconsistent messaging from the Reserve Bank and the uncertainty regarding cuts

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/278503b6-c82d-405e-9282-b1c5014db694/transcript