RBNZ keeps rates on hold as expected, reiterates numerous uncertainties remain

Wed, 21 Mar 2018

By Rebecca Howard March 22 (BusinessDesk) - Acting Reserve Bank governor Grant Spencer kept the official cash rate unchanged at 1.75 percent and continued to signal that rates will remain on hold due to the lack of inflationary pressure. "Monetary policy will remain accommodative for a considerable period," Spencer reiterated. "Numerous uncertainties remain and policy may need to adjust accordingly." All 13 economists polled by Bloomberg had predicted the official cash rate would stay unchanged, with the median expecting the bank to s...

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