GDP data came in far weaker than expected in the June quarter, but hopes are for a return to growth in the current quarter.
The economy went backwards over the three-month period, in a much deeper contraction than expected.
Ahead of GDP data next week, economists reckon the economy went backwards, but there’s no technical recession on the horizon.
A new permanent governor to replace Adrian Orr is expected in the coming weeks, while a new board chair also needs to be found.
Quigley was on the board for 15 years and spent nine years as chair.
A four-two vote in favour of a cut by 25bps won the day, as some RBNZ Monetary Policy Committee members pushed for more.
The RBNZ's Monetary Policy Committee voted on whether to cut by 25bps or 50bps, with a majority of four votes to two in favour of 25bps.
Statistics NZ data shows food prices jumped 5% in the year ended July, as inflation pressures bubble away.
It says there is merit in having an agency undertake independent scrutiny of public finances.
Inaugural survey highlights a two-tier economy, with economic optimism continuing to put the South Island ahead.