Covid lockdown puts OCR rise on hold

Reserve Bank governor Adrian Orr heads the monetary policy committee. (Image: Getty)

Wed, 18 Aug 2021

The Reserve Bank's monetary policy committee has left its official cash rate on hold, saying the decision was made in the context of the country going back into lockdown."The committee will assess the inflation and employment outlook on an ongoing basis, with a view to continue to reduce the level of monetary stimulus over time so as to best meet their policy remit," RBNZ said in a statement.The central bank had already halted its large-scale asset purchase programme last month and, before the latest outbreak of covid-19 in the co...

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