RBNZ keeps OCR at 3.5%, signals slower pace of future hikes; kiwi drops

Wed, 10 Sep 2014

By Paul McBeth Sept. 11 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won't be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. Wheeler kept the key rate unchanged, as expected, saying the economy was adjusting to the bank's rate hikes earlier this year, though risks still remained as to how much strong net migration will impact on housing, and the extent to which construction a...

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