THE New Zealand Reserve Bank has left the official cash rate unchanged at 8.25%.
Reserve Bank Governor Alan Bollard said the outlook for the economy and interest rates remains broadly consistent with the view outlined in the September Monetary Policy Statement.
“The labour market remains tight, domestic income growth continues to expand on the back of strong commodity prices, and core inflationary pressures persist. On the other hand, there are signs the housing market is moderating.
“While the turbulence in global financial markets has eased somewhat, considerable uncertainty remains. This poses a downside risk for our key trading partner economies. In addition, the
“We believe that the current level of the OCR remains consistent with future inflation outcomes of 1 to 3% on average over the medium term,” Bollard concluded.
Australian Property Journal
