RBNZ leave rates steady at 2.50%
29 October 2009
The Reserve Bank of New Zealand left the Official Cash Rate (OCR) unchanged at 2.5 percent. Reserve Bank Governor Alan Bollard said: "There are welcome signs that economic activity is growing again.
"Activity in New Zealand's trading partners continued to rebound during the September quarter and financial market sentiment has improved further. However, there remain significant vulnerabilities and challenges to be worked through in many economies. This process could weigh on global growth going forward. Bollard finished his statement reaffirming his view that interest rates will continue at current levels until the second half of 2010.