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OCR remains at record low

Author
Newstalk ZB staff,
Publish Date
Thu, 11 May 2017, 10:02AM
Reserve Bank Governor Graeme Wheeler's left the OCR unchanged (NZH).
Reserve Bank Governor Graeme Wheeler's left the OCR unchanged (NZH).

OCR remains at record low

Author
Newstalk ZB staff,
Publish Date
Thu, 11 May 2017, 10:02AM

The Official Cash Rate is staying right where it is.

Reserve Bank Governor Graeme Wheeler's left the OCR unchanged at its record low 1.75 percent.

He said global economic growth has increased and become more broad-based over recent months.

However, Mr Wheeler said major challenges remain, with on-going surplus capacity and extensive political uncertainty.

He said monetary policy will remain accommodative for a considerable period, warning numerous uncertainties remain and policy may need to adjust accordingly.

 

 

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