Statement issued by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today left the Official Cash Rate unchanged at 3.5 percent. The global economy is growing at a moderate rate although recent data suggests some softening in the major economies, apart from the United States. Monetary policy is expected to remain supportive for longer in all the major economies. Growth in the New Zealand economy has been faster than trend over 2014, reducing unemployment and adding to demands on productive capacity. Strong construction sector activity, high net immigration, and interest rates, which remain low by historic ... (full story)