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Reserve Bank governor points to lower growth and rising trade tension as cash rate is left unchanged
The Reserve Bank has left the official cash rate (OCR) unchanged, but hinted that the economy may be running slightly slower than expected. The benchmark rate has an influence on interest rates earned and paid by consumers, especially short term ones, however the impact has diminished as it has fallen to record lows. Governor Adrian Orr said that while the outlook he detailed in his first interest rate decision "remains intact", the drivers of the economy may not be as strong as though. "The recent weaker [economic growth figures] implies marginally more spare capacity in the economy than we anticipated," ... (full story)
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