RBNZ's Wheeler keeps OCR at 2.5 percent , still focused on inflation

Wed, 05 Dec 2012

By Paul McBeth Dec. 6 (BusinessDesk) - Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent, as expected, saying monetary policy is still focused on future inflation and that he's looking for any sign of more softening in prices. "The bank is closely monitoring indicators for any sign of further moderation and is mindful of recent downside surprises to employment and inflation outturns," Wheeler told a briefing in Wellington in his maiden monetary policy statement. Wheeler said economic growth has slowed in rece...

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