OCR could remain unchanged until 2020

Posted 6 months ago by Admin

The Reserve Bank Governor Adrian Orr has this morning announced that the Official Cash Rate (OCR) is likely to remain at 1.75 percent through until 2020, longer than projected in the May Monetary Policy Statement.

The key points in today's statement:

  • Low interest rates will support the economy
  • Employment remains healthy so wages are likely to rise
  • Global economic growth is supporting the New Zealand economy
  • Uncertainty remains—as always.

 

For a short and easy-to-understand explanation check out the Reserve Bank's Monetary Policy Statement in pictures.

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