OCR held at 1.75%

As expected and discussed in this post the RBNZ governor announced this week that he will hold the OCR at 1.75%.

His decision took into consideration the recovery of commodity prices, the slowing down in house prices,  and possible geopolitical uncertainty in Europe.

As a result, he followed the US Federal Reserve’s decision, tio keep interest rates on hold and adopted a ‘wait and see’ approach.

The RBNZ will wait for more signs of strengthening economy before raising the OCR again.

 

 

 

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