RBNZ’s Bollard May Keep Rate Unchanged, Cut Forecasts
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New Zealand’s central bank will probably keep its benchmark interest rate unchanged and may lower economic forecasts as domestic demand weakens and dry weather threatens farm production.
Reserve Bank of New Zealand Governor Alan Bollard will leave the official cash rate at 3 percent at 9 a.m. tomorrow in Wellington, according to all 14 economists surveyed by Bloomberg News. Ten analysts expect the first rate rise in March and four forecast an increase in the second quarter, the survey showed.