Jun
27
RBNZ Keeps Benchmark Interest Rate at Record Low `For Now’
By-
Governor says bank well placed to manage rate move up or down
- ASB sees growing risk that next rate move ‘may be a cut’
New Zealand’s central bank held interest rates at a record low but signaled it is prepared to cut them if needed as economic growth slows and inflation remains below target.
“The official cash rate will remain at 1.75 percent for now,” Reserve Bank Governor Adrian Orr said in a statement Thursday in Wellington. “However, we are well positioned to manage change in either direction — up or down — as necessary.”…
