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RBNZ lifts cash rate
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Interest rates will come under pressure to rise in the coming weeks after the Reserve Bank raised the Official Cash Rate (OCR) by 0.25 percent to 3 per centthis morning.
In a move widely expected by the financial markets, Reserve Bank governor Alan Bollard announced a second rate hike in six weeks.
The OCR, which influences mortgage rates, was slashed to a record low of 2.5 percent last year in a bid to stimulate the economy, but the Reserve Bank has signalled in recent months that this stimulus would be reigned in as the economy recovered.
The OCR, which was introduced in 1999, is still below the level of any time prior to January 2009.
While most economists predicted the... Full Story |
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Submitted Jul 28, 2010 5:14pm
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bullish on kiwi
bullish on kiwi
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