RBNZ's Wheeler keeps OCR at 1.75%, doesn't anticipate moving any time soon

Wed, 22 Mar 2017

By Paul McBeth March 23 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. "Monetary policy will remain accommodative for a considerable period," Wheeler said in a statement. "Numerous uncertainties remain, particularly in respect of the international outlook, and policy may need to adjust accordingly." Last month the Reserve Bank adopted a neutral stance on policy, s...

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