Bollard keeps OCR unchanged, pushes out track for future rate hikes

Bollard keeps OCR unchanged, pushes out track for future rate hikes
By Paul McBeth June 14 (BusinessDesk) - Reserve Bank Governor Alan Bollard kept the official cash rate unchanged at 2.5 percent and pushed out the track for future rate hikes as Europe's instability weighs heavily on global growth. "Political and economic stresses in Europe, along with a run of weaker-than-expected data, have seen New Zealand's trading partner outlook worsen," Bollard said in a statement. "It remains appropriate for monetary policy to remain stimulatory." The central bank trimmed its forecast for the 90-day bank bill rate,...