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Reserve Bank expected to leave OCR unchanged but signal cuts are coming
At 9am the Wellington-based central bank will release a one-page statement on it review of the benchmark interest rate. Market economists unanimously expect that Wheeler will leave the OCR, which influences interest rates on bank deposits and mortgages, unchanged at the record low of 2 per cent. On Thursday the Reserve Bank is set to review the official cash rate, the benchmark rate which influences interest rates on mortgages and deposits. Even before Statistics New Zealand released figures this month showing the economy grew at 3.6 per cent in the year to June 30, Wheeler was expected to wait until at least ... (full story)
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