RBNZ keeps OCR on hold for now, warns higher kiwi may warrant lower rates

Wed, 28 Oct 2015

By Paul McBeth Oct. 29 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged, while reiterating another cut is likely and warning that a recent gain in the kiwi dollar could restrain inflation, adding to the case for a lower interest rate path. Wheeler left the OCR at 2.75 percent, as expected, having cut the benchmark rate three times this year to stoke activity in a softening economy and lift inflation, which has been below the bank's target band of 1 percent to 3 percent since September last year....

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