Economists were predicting the OCR would stay the same before Wednesday's announcement.
"We need to be looking a lot more broadly and holistically."
"Pretty much everywhere you look over the last three months was positive."
"I don't take any economic lessons from the last Labour Government and Chris Hipkins."
Gross Domestic Product fell by 0.1 percent.
It comes as the Government is being urged to run a tight ship and reconsider their tax policy ahead of the 2024 budget.
The International Monetary Fund has done a health check on New Zealand - and it comes with a warning about Government spending.
GDP figures are expected to show no or little economic growth, with one bank saying "it's not going to be flash".
"As we go through the year, we are expecting some of those announced job losses will turn into actual recorded job losses."
