|
Reserve Bank raises OCR to 3.0 percent
 |
The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 3.0 percent.
Reserve Bank Governor Alan Bollard said: “While the outlook for economic growth has softened somewhat, it is still appropriate to continue to reduce the extraordinary level of support implemented during the 2008/09 recession.
“The world economy continues its fragile recovery. Trading partner growth has turned out stronger than we predicted, however, future prospects for growth have deteriorated. While still at high levels, our commodity prices have moderated.
“In New Zealand, domestic demand is subdued. Households are cautious, with retail spending growing only modestly, housing... Full Story |
|
Story Submitter
|
|
Story Stats
Submitted Jul 28, 2010 5:01pm
Members who voted Fade for this story:
|
|
Your Vote?
 Useful |
 Fade |
| Cast your vote for this story! |
| Your vote helps fellow traders identify the most useful stories! |
|
|
|
