RBNZ keeps OCR unchanged; strong kiwi provides flexibility though rates will rise

Wed, 30 Oct 2013

By Paul McBeth Oct. 31 (BusinessDesk) – Reserve Bank governor Graeme Wheeler kept the official cash rate at a record-low 2.5 percent, while rates are set to rise next yeah though persistent strength in the New Zealand dollar would give him “greater flexibility” as to the timing and size of any hikes. “Sustained strength in the exchange rate that leads to lower inflationary pressure would provide the bank with greater flexibility as to the timing and magnitude of future increases in the OCR,” Wheeler said in a statement. Wheeler has to jug...

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