UPDATE: NZ central bank says cut to OCR may be needed if inflationary forces dim

Wed, 29 Apr 2015

(Adds economist comment, updates dollar) By Jonathan Underhill April 30 (BusinessDesk) - The Reserve Bank of New Zealand kept the official cash rate at 3.5 percent and said it may have to lower the rate should demand and inflationary pressures track lower than would be consistent with its inflation target. Governor Graeme Wheeler changed his language compared to the March 12 monetary policy statement, dropping any reference to the possibility of rate hikes, repeating that the kiwi dollar is unjustifiably and unsustainably high and pain...

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