RBNZ's Wheeler keeps OCR at 1.75%, nudges up rate track; kiwi falls

Wed, 08 Feb 2017

By Paul McBeth Feb. 9 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 1.75 percent and acknowledged growing expectations for a rate hike, signalling it could come in 2019, while reiterating his concern about the strong New Zealand dollar. The kiwi dollar shed about half a US cent. "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 accordin...

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