RBNZ's Orr keeps OCR at 1.75%; more upbeat about economic growth

Wed, 26 Sep 2018

By Rebecca Howard Sept. 27 (BusinessDesk) - Reserve Bank governor Adrian Orr left the official cash rate at a record low 1.75 percent and while he kept a future cut on the table, he was more upbeat about the economy. "We expect to keep the official cash rate at this level through 2019 and into 2020. The direction of our next OCR move could be up or down," Orr said in a one-page statement. The wording was virtually identical to the prior statement in August although he was more optimistic about economic growth. "Our outlook for th...

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