RBNZ Expected To Raise Interest Rates Again @ Forex Factory

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RBNZ Expected To Raise Interest Rates Again

The Reserve Bank of New Zealand is likely to raise the official cash rate again by a quarter percentage point to 3.00% in Thursday's policy meeting despite the economic recovery proceeding at a tepid pace. The RBNZ raised its official cash rate by 25 basis points to 2.75% last month - the first hike in almost three years. In a statement accompanying that rate announcement, RBNZ governor Alan Bollard said the increase was triggered by sustained economic growth. But since that policy meeting most economic data have mildly dissapointed on the downside. New Zealand's gross domestic product grew by 0.6% against the central bank's forecast of 0.8%. Retail sales rose a weak 0.4% in May, while... Full Story

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Submitted Jul 28, 2010 7:14am

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