Falling dairy prices, high kiwi and milder inflation may temper RBNZ’s OCR track

Mon, 21 Apr 2014

April 22 (BusinessDesk) – The Reserve Bank of New Zealand is set to raise its benchmark interest rate for the second time in as many months although the ground has shifted slightly since it began tightening in March, with dairy prices tumbling and inflation printing weaker than forecast. The central bank will lift the official cash rate a quarter point to 3 percent on Thursday, a level it last saw in January 2011, according to all 15 economists in a Reuters survey. Based on governor Graeme Wheeler’s projections in the March monetary policy st...

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