Paying the cost of bureaucratic incompetence

If the RBNZ doesn’t ease the OCR it should at least give a concrete idea, in the May 22 MPS, of when it will start coming down, he says.

“With every economic indicator being weaker than expected things are pretty much playing out as the central bank and economists expected.”

While the banks’ economists are saying no easing of the OCR until November or February or even mid-year next year, Cunningham thinks this is wrong.

Squirrel Mortgages founder John Bolton says this is a classic example of the Reserve Bank looking in the rear vision too much when trying to run the economy.