UPDATE: RBNZ's Orr keeps OCR at 1.75% in first outing, says next move could be up or down

Wed, 09 May 2018

(Updates to add detail from monetary policy statement throughout) By Rebecca Howard May 10 (BusinessDesk) - New Reserve Bank governor Adrian Orr kept the official cash rate at 1.75 percent and said the direction of the next move is equally balanced and could be up or down, although its forecasts continue to point to eventual rate increases. The New Zealand dollar fell. Orr said economic growth and employment remain near their sustainable levels but inflation is still below the 2 percent mid-point of the central bank's target band. As...

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