RBNZ Shadow Board recommends a rate cut this week

SMH at central banks last week, wall-to-wall PhDs at them and not an ounce of comment sense. Two examples:

• RBA leaves its cash rate unchanged at 4.10%, as expected
• Powell: Will wait for clarity

These guys are supposed to get themselves ahead of the curve at times of financial market stress, not 'wait for clarity'.

Anyways ... The Reserve Bank of New Zealand meet this week. If there is one DM central bank that doesn't stuff around (too much) it's the RBNZ. A rate cut was pretty much always in the cards from this meeting coming up, the Shadow Board tip it too

• The NZIER Monetary Policy Shadow Board recommends the Reserve Bank of New Zealand (RBNZ) cut the Official Cash Rate (OCR) by 25 basis points to 3.50 percent in the upcoming April Monetary Policy Review.
• Link for more here

I tip a 50!

2pm NZ time is

• 0200 GMT
• 2200 US Eastern time