RBNZ could cut OCR to new record low as souring dairy eats into growth: AMP Capital

Thu, 16 Jul 2015

By Suze Metherell July 16 (BusinessDesk) - The Reserve Bank of New Zealand may take interest rates to a new record low as dairy prices, the currency and the labour market weigh on economic growth, according to one of the country's largest fund managers. AMP Capital Investors New Zealand chief economist Bevan Graham wouldn't rule out the central bank lowering the official cash rate below 2.5 percent, and expects governor Graeme Wheeler will return the cash rate to that level by October. "The setting of monetary policy has been pretty...

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