UPDATE: No interest rate change before 2020, says RBNZ's Orr

Wed, 08 Aug 2018

(Updates to add detail throughout, updated currency and adds comment from economist in paragraph 11 ) By Rebecca Howard Aug. 9 (BusinessDesk) - Reserve Bank governor Adrian Orr kept the official cash rate at 1.75 percent as widely expected but said he now expects to keep rates on hold for at least a year longer than previously thought and reiterated the next move could be up or down. "We expect to keep the OCR at this level through 2019 and into 2020, longer than we projected in our May statement. The direction of our next OCR move co...

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