Lower OCR possible, but not yet

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Posted 3 months ago by Admin

The Reserve Bank has kept the OCR at 1.5% for now, despite some earlier speculation that it might have been lowered again in the announcement on Wednesday.

The global economic outlook remains weak. The Bank has indicated that with the downside risks around employment and inflation a lower OCR may be needed. It's expected that low interest rates and increased government spending will support a lift in economic growth and employment.

You can read the full announcement on the Reserve Bank website.

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