OCR in restrictive territory for 'sustained' period: RBNZ
The central bank's monetary policy committee left the OCR on hold at 5.5% today.
WATCH: RBNZ Governor Adrian Orr delivers the February monetary policy statement.
The Reserve Bank has reiterated the official cash rate needs to stay in the restrictive zone for a “sustained” period to ensure inflation falls back to target.
This afternoon, the central bank’s Monetary Policy Committee agreed to leave the OCR on hold at 5.5%, as most analysts expected.
RBNZ
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