RBNZ's Wheeler keeps OCR at 1.75% and rate track intact

Wed, 09 Aug 2017

By Paul McBeth Aug. 10 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 1.75 percent with future projections unchanged, disappointing some analysts who had been tipping an even later start to a tightening cycle. "Monetary policy will remain accommodative for a considerable period," Wheeler said in a statement. "Numerous uncertainties remain and policy may need to adjust accordingly." All 11 economists polled by Bloomberg expected Wheeler to keep the benchmark rate unchanged, although a run of weake...

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