The Reserve Bank board has plenty to think about this weekend, as it weighs up whether to cut the Official Cash Rate

It's set to make its next OCR decision on Wednesday afternoon .

The central bank is weighing up a range of factors -- including a new NZIER Quarterly Survey of Business Opinion showing almost a third of businesses are still seeing a decline in activity.

ASB senior economist Mark Smith says the Reserve Bank needs to make another cut next week.

He says at least a 25 bases point cut is needed, but he wouldn't rule out a 50 basis point cut given how weak the economy is.