OCR may stay low until June 2013 MPS as modest growth keeps inflation in check

Sun, 09 Sep 2012

By Jonathan Underhill Sept. 10 (BusinessDesk) - Reserve Bank Governor Alan Bollard may use his swansong interest rate review this week to keep conditions unchanged, because modest growth in the New Zealand economy is being offset by a tepid global outlook. Bollard will keep the official cash rate at 2.5 percent, according to a Reuters survey of 18 economists. He won’t move until June next year at the earliest, based on the median of expectations. The rate hasn’t budged since March last year from the lowest since it was introduced in March 199...

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