RBNZ’s Wheeler keeps OCR on hold, no rate hikes ahead

Wed, 11 Mar 2015

By Paul McBeth March 12 (BusinessDesk) - The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where "neutral" interest rates should be. The kiwi dollar gained after the statement. Governor Graeme Wheeler kept the official cash rate at 3.5 percent, as expected, saying inflation is expected to stay low this year before gradually returning to the 2 percent midpoint of the cent...

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