RBNZ holds OCR, still advocating time and patience

RBNZ holds OCR, still advocating time and patience
Any rate hikes are also firmly off the table for now.
Rebecca Howard
New Zealand’s central bank held the official cash rate at 0.25% and reiterated it is prepared to lower the rate if necessary.“The committee agreed to maintain its current stimulatory monetary settings until it is confident that consumer price inflation will be sustained at the 2% per annum target midpoint, and that employment is at or above its maximum sustainable level,” it said.“Meeting these requirements will necessitate considerable time and patience. The committee agreed that it was prepared to lower the OCR if requ...

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