Wheeler to leave interest rates unchanged as inflation stays benign for now

Sun, 02 Dec 2012

Dec. 3 (BusinessDesk) – Reserve Bank governor Graeme Wheeler will probably keep the official cash rate unchanged at a record low this week because there’s little sign that renewed life in the housing market and Christchurch’s rebuild is stoking inflation yet. Wheeler will leave the OCR unchanged at 2.5 percent on Thursday, according to all 12 economists in a Reuters survey. Looking out over the next 12 months, the median estimate is for him to begin hiking rates in the third quarter of 2013. Some economists say he has room to cut rates in hi...

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