Rates on hold but no more money printing

The central bank is mandated with keeping inflation between 1% and 3%. (Image: Getty)

Wed, 14 Jul 2021

New Zealand’s central bank left interest rates on hold at 0.25% but will halt the large scale asset purchase programme by July 23.“The committee noted that medium-term inflation and employment would likely remain below its remit objectives in the absence of some ongoing monetary support,” the monetary policy committee said.“However, the committee agreed that the level of monetary stimulus could now be reduced to minimise the risk of not meeting its mandate,” it said.It noted the official cash rate is its preferred...

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