Reserve Bank Of NZ Leaves Key Interest Rate At 2.50%

(RTTNews) - The Reserve Bank of New Zealand Thursday left the country’s key interest rate unchanged, and signaled no raising of rates until the second half of next year.

The RBNZ announced that the Official Cash Rate would remain at 2.50 percent.

In his accompanying statement, RBNZ Governor Alan Bollard said there are “welcome signs that economic activity is growing again.”

Bollard noted that the forecast economic activity is baked on fiscal and monetary policy, which “remains appropriate.”

The RBNZ chief said the bank’s policy makers “see no urgency to begin withdrawing monetary policy stimulus, and we expect to continue to keep the OCR at the current level until the second half of 2010.”

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