RBNZ’s Wheeler keeps OCR at 2.5 percent , signals steeper rate hikes next year

Wed, 11 Sep 2013

By Paul McBeth Sept. 12 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent, and signalled expected rate hikes next year will likely be steeper than previously anticipated as the housing market and construction sector continue to gather momentum. “OCR increases will likely be required next year,” Wheeler said in a statement. “The extent and timing of the rise will depend largely on the degree to which the momentum in the housing market and construction sector spills over into broader demand and in...

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