RBNZ keeps interest rate steady at 2.50%
09 June 2011
New Zealand's central bank held its key interest rate steady at 2.50 percent adding it would keep it there for now, but rates would need to rise over the next two years to contain inflation. In the statement the bank said the economic outlook has improved and next year they expect strong growth, with earthquake reconstruction adding 2 percentage points to GDP. The RBNZ sees 90-day bank bill at 3.0 pct in Dec 2011, 3.8 pct in June 2012, and 4.6 pct in Dec 2012.