UPDATE: RBNZ's cost of waiting 'much lower' as strong kiwi, house prices pose risks

Thu, 09 Jun 2016

(Recasts, adds detail and comment from RBNZ, economists) By Paul McBeth June 9 (BusinessDesk) - The cost of waiting until the next monetary policy statement in August was "much lower" when viewed against the risk of cutting rates too early as the Reserve Bank weighs up a strong kiwi dollar against the threat of house prices soaring further. The central bank kept the official cash rate at 2.25 percent and retained its projected track for the 90-day bank bill rate which implies one more reduction, meeting traders' expectations who had p...

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