Economists' uncertainty regarding the Reserve Bank's upcoming Official Cash Rate moves speaks to how inconsistent its messaging has been. Â
Stats NZ data has the unemployment rate at 4.6% in the June quarter, up from 4.4% in March. Â
It's one factor the Reserve Bank considers when weighing up whether to cut the Official Cash Rate.Â
Infometrics principal economist Brad Olsen told Mike Hosking a couple of banks are picking an August cut, others November, and some think next year. Â
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.Â
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