RBNZ keeps OCR at 1.5%, signals more easing likely

Wed, 26 Jun 2019

By Rebecca Howard June 26 (BusinessDesk) - The Reserve Bank kept the official cash rate at 1.5 percent and left the door open for further rate cuts as the outlook for the economy has softened since its assessment in May. “Given the weaker global economic outlook and the risk of ongoing subdued domestic growth, a lower OCR may be needed over time to continue to meet our objectives," the central bank said in a statement. All 20 economists polled by Bloomberg had expected the central bank to remain on hold. The New Zealand dollar lif...

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