RBNZ to keep rates on hold until 2014 as Bollard makes his last hurrah

Wed, 12 Sep 2012

By Paul McBeth Sept. 13 (BusinessDesk) – The Reserve Bank will probably keep interest rates on hold until the start of 2014 as New Zealand's trading partners struggle with a sluggish global economy, bringing it in line with market expectations. Governor Alan Bollard held the official cash rate at 2.5 percent today in his 80th and final review, before handing over the reins to successor and former World Bank executive Graeme Wheeler on Sept. 25 after a decade in the role. The central bank trimmed its forecast for the 90-day bank bill rate,...

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