RBNZ Monetary Policy Statement

From govt.nz

The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5 percent. The global outlook remains mixed. GDP growth in Australia and China has slowed and some emerging market currencies have come under considerable downward pressure. At the same time, the major developed economies continue to recover and New Zealand’s export commodity prices remain very high. Although long-term interest rates have risen globally in recent months, largely due to uncertainty around the timing of theFederalReserve’sexitfromquantitativeeasing,global financial conditionsoverall continuetobeveryaccommodating. In New ... (full story)