RBNZ keeps rates on hold but drops talk of possible rate cut

Wed, 07 Nov 2018

By Rebecca Howard Nov. 8 (BusinessDesk) - Reserve Bank governor Adrian Orr kept the official cash rate at 1.75 percent as widely expected and while he said the central bank expects to keep it at this level into 2020, he pared back language around a possible rate cut. "We will keep the OCR at an expansionary level for a considerable period to contribute to maximising sustainable employment, and maintaining low and stable inflation," said Orr in the press release accompanying the monetary policy statement. The New Zealand dollar fell to...

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