Reserve Bank of New Zealand: No Change for Seventh Straight Meeting
January 25, 2012
New Zealand’s 2.5% Official Cash Rate (OCR) has been retained. This continues to match the cyclical low maintained from April 2009 until June 2010. The OCR was raised by 25 basis points each in June and July 2010 but cut by 50 bps in March of 2011. A statement from the central bank cites "well-contained inflation pressures," global uncertainties, modest overall growth, and moderately expanding domestic demand to justify keeping the OCR at its cyclical low. The next interest rate announcement is scheduled for March 8.
Copyright 2012, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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