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Reserve Bank doubles down on promise to keep OCR at 0.25pc until March
The Reserve Bank has doubled down on its promise to keep the official cash rate steady at 0.25 per cent until March, saying it is not sure why some analysts believe it may send the OCR negative before then. Governor Adrian Orr madethe commitment to keep the OCRon hold for a year on March 16, at the same time that the Reserve Bankslashed the OCR by 75 basis points to 0.25 per cent. Questioned on the nature of the commitment at the time, Orr made it clear he was giving the Reserve Bank's word to keep the OCR on hold until at least March next year. "The commitment stands here. It is the Reserve Bank's word," he said at ... (full story)