Statement issued by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today left the Official Cash Rate unchanged at 3.5 percent. New Zealand’s economy is expected to grow at an annual pace of 3.7 percent over 2014. Global financial conditions remain very accommodative and are reflected in low interest rates, narrow risk spreads, and low volatility across a range of asset markets. Accommodative financial conditions are supporting a moderate rate of global growth, albeit uneven across regions. New Zealand’s economic growth continues to be supported by increasing construction activity and ongoing strength in ... (full story)