RBNZ’s Wheeler keeps OCR at 2.5 percent 'for now' in debut review, watching inflation

Wed, 24 Oct 2012

By Paul McBeth Oct. 25 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent in his debut review, and is keeping close tabs on the level of inflation after it dropped below the bank's target band in the September quarter. Wheeler reintroduced the caveat that the record-low setting for the benchmark rate remains appropriate "for now" and brought inflation back in focus after the annual pace of 0.8 percent in the September quarter was below the bank's target band of between 1 percent and 3 percent....

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