RBNZ keeps OCR at 1.75%

RBNZ governor today left the Official Cash Rate (OCR) unchanged at 1.75 percent. This was expected but the New Zealand dollar still fell to a four-week low against the USD.

The governor continued to signal no increases until at least the latter half of next year.

This will mean we are unlikely to foresee large changes in interest rates (on term deposit and mortgages) in the near term.

 

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