The New Zealand Institute of Economic Research have a set of analysts to make up their 'shadow' monetary policy board.
There remains a wide range of views amongst the Shadow Board on whether more monetary policy stimulus is required, and in what form. Overall, the consensus amongst the Shadow Board is that more stimulus would be required over the next twelve months, with the majority favouring an expansion of the Reserve Bank's quantitative easing programme.
Check out the link here for more
NZIER's report comes ahead of the Reserve Bank of New Zealand policy meeting on 24 June
- decision announced at 0200GMT on 24 June
The NZIER note:
- Shadow Board is independent of the Reserve Bank of New Zealand
- participants ... indicate what they believe is the most appropriate Official Cash Rate setting for the economy ... where they think interest rates should be, not what they believe will happen