The account of the meeting showed that "the....>

RBNZ: The account of the meeting showed that "the Committee reached a consensus

that, relative to the February Statement, a lower path for the OCR over the

projection period was appropriate. The lower path reflected the economic

projections and the balance of risks discussed, and is consistent with both

inflation and employment remaining near the Committee's objectives. After

discussing the relative benefits of holding the OCR and committing to a downward

bias, versus cutting the OCR now so as to establish a more balanced outlook for

interest rates, the Committee reached a consensus to cut the OCR to 1.50

percent."

- The term consensus was used twice here, suggesting that the cut was not a

unanimous decision.