RBNZ's Wheeler keeps OCR at 1.75%, leaves rate track unchanged; kiwi drops

Wed, 10 May 2017

By Paul McBeth May 11 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent and also kept the rate track unchanged, saying the recent jump in consumer prices may only be temporary. The kiwi dollar fell on disappointment he didn't bring forward the track of rate hikes. "The increase in headline inflation in the March quarter was mainly due to higher tradables inflation, particularly petrol and food prices," Wheeler said in a statement. "These effects are temporary and may lead to some v...

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