UPDATE: RBNZ's Spencer keeps rates on hold, brings forward timing of rate hikes

Wed, 08 Nov 2017

(Updates to add detail throughout, comment from economist) By Rebecca Howard Nov. 9 (BusinessDesk) - Acting Reserve Bank governor Grant Spencer kept the official cash rate unchanged at 1.75 percent but brought forward a potential rate hike to June 2019 from September that year and lifted the inflation forecasts to factor in the impact of new government policies and a weaker currency. While the forecasts were rejigged, Spencer reiterated "monetary policy will remain accommodative for a considerable period. Numerous uncertainties remai...

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