Bollard keeps OCR at 2.5 percent , cites weak trading partners, complains about kiwi dollar

Wed, 12 Sep 2012

By Paul McBeth Sept. 13 (BusinessDesk) - Reserve Bank governor Alan Bollard kept the official cash rate at 2.5 percent at his final review of monetary policy, saying the weak outlook for the country's trading partners threatens economic growth and the strong kiwi dollar is hurting exporters and local manufacturers. "Several euro-area economies are in recession and Chinese growth has slowed," Bollard told a briefing in Wellington. Signs of life in the domestic economy were being offset by the government's plans for fiscal consolidation and a...

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