Weak growth trumps inflation in RBNZ's policy stance

Thu, 09 Aug 2018

By Rebecca Howard Aug. 9 (BusinessDesk) - Concerns about New Zealand's slowing economy trumped signs of emerging inflation for the central bank after Reserve Bank governor Adrian Orr said he expects to keep the official cash rate on hold for at least a year longer than previously forecast. "We expect to keep the OCR at this level through 2019 and into 2020, longer than we projected in our May statement. The direction of our next OCR move could be up or down," said Orr in the monetary policy statement after keeping rates on hold at a recor...

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