Economic Weekly: Shock and Orr

  • The Reserve Bank of New Zealand's (RBNZ) Monetary Policy Committee (MPC) has proved to be a decisive decision-making group.
  • The Committee delivered a surprisingly aggressive 50-basis-point Official Cash Rate cut at last week’s Monetary Policy Statement, versus the 25-basis-point cut that was widely expected.
  • The RBNZ’s economic projections saw the need for at least 50 basis points of stimulus, and the MPC concluded there was little to gain from delivering this stimulus in a gradual fashion.

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Mark Smith

Senior Economist

Mark joined ASB in 2017, with over 20 years of public and private sector experience working as an economist in New Zealand and the UK.

His resume includes lengthy stints at ANZ and the Reserve Bank of New Zealand, and he has also worked at the Bank of England, HM Treasury and the New Zealand Transport Agency. Mark's areas of specialisation include interest rate strategy, macro-economic analysis and urban economics.

Born and bred in the Waikato, Mark studied at Waikato University where he graduated with a Master of Social Sciences, majoring in Economics.

Mark's key strengths are the ability to use his extensive experience, inquisitive nature, analytical ability, creativity and pragmatism to dig a little deeper and to deliver common sense solutions to tackle complex problems.

When not at work Mark likes to travel, keep fit and spend time with his friends and family.