Wheeler speech convinces many economists OCR on hold next week, even as kiwi rebounds

Fri, 23 Oct 2015

By Jonathan Underhill Oct. 23 (BusinessDesk) - The Reserve Bank may keep the official cash rate unchanged next week to avoid inflaming Auckland's housing market and to keep some capacity up its sleeve should global growth stumble, even though the kiwi dollar has gained when the bank had expected a decline. Governor Graeme Wheeler will keep the OCR at 2.75 percent on Oct. 29, according to the median forecast in a Reuters poll of 15 economists. They expect him to cut the OCR to 2.5 percent at the Dec. 10 monetary policy statement, which ma...

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