RBNZ Signals Extended Interest-Rate Pause on Benign CPI
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New Zealand’s central bank signaled it will keep interest rates on hold for an extended period as inflation slows and the currency remains unjustifiably high.
“A period of assessment remains appropriate before considering further policy adjustment,” Reserve Bank of New Zealand Governor Graeme Wheeler said in Wellington after keeping the official cash rate at 3.5 percent. He omitted a comment from his prior statement that the central bank expected some further policy tightening would be necessary to contain future inflation.