RBNZ retains view of robust economy in face of rate cuts

Wed, 09 Mar 2016

By Paul McBeth March 10 (BusinessDesk) - The Reserve Bank kept its forecast for robust economic activity in New Zealand, even as dwindling expectations on inflation forced an interest rate cut. The central bank anticipates gross domestic product will grow at an annual pace of about 3 percent over the next two years, raising its forecast for 2016 and 2017 and trimming its outlook for 2018. Unemployment is seen dropping below 5 percent in 2018, with the bank slicing about half a percentage point from its forecast joblessness, the governmen...

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