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RBNZ Official Cash Rate unchanged at 1.75 percent
The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent. The outlook for global growth continues to gradually improve. While global inflation remains subdued, there are some signs of emerging pressures. Commodity prices have continued to increase and agricultural prices are picking up. Equity markets have been strong, although volatility has increased. Monetary policy remains easy in the advanced economies but is gradually becoming less stimulatory. GDP was weaker than expected in the fourth quarter, mainly due to weather effects on agricultural production. Growth is expected to strengthen, ... (full story)