Bollard holds OCR at 2.5%, as expected
High dollar is detrimental to the tradable sector, Reserve Bank governor says.
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EARNINGS
This morning the country's central bank kept the official cash rate at 2.5% - which was universally expected by economists.
"While helping contain inflation, the high value of the New Zealand dollar is detrimental to the tradable sector, undermines GDP growth and inhibits rebalancing in the New Zealand economy," he said in his quarterly monetary policy statement.
MORE: Bollard takes aim at currency
Rob Hosking
Thu, 08 Mar 2012
Thu, 08 Mar 2012
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Bollard holds OCR at 2.5%, as expected
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