Traders less certain NZ will follow Australia and cut rates; no change seen at next OCR review

Fri, 08 Jun 2012

By Jonathan Underhill June 08 (BusinessDesk) - Traders have pared their bets that the Reserve Bank of New Zealand will follow Australia in cutting interest rates though global risks, especially Europe, and a tepid local recovery will keep the official cash rate unchanged next week and right through 2012. Governor Alan Bollard will keep the OCR at 2.5 percent with his quarterly Monetary Policy Statement on June 14, according to all 14 economists in a Reuters survey. The bank will lift its benchmark rate a quarter point to 2.75 percent by March...

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