UPDATE: RBNZ, Fed keep rate action for later this year

Wed, 21 Sep 2016

(Updates and recasts with economist comment) By Paul McBeth Sept. 22 (BusinessDesk) - The Reserve Bank of New Zealand and the US Federal Reserve stuck to their scripts today, pushing out any action on interest rates until later this year. The Federal Open Market Committee kept the target for the federal funds rate at 0.25-to-0.5 percent, judging the case for an increase had strengthened, pending the flow of economic data. Meanwhile, RBNZ governor Graeme Wheeler held the official cash rate at 2 percent and kept his bias for a cut later...

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