News

Bollard leaves cash rate unchanged

Thursday 4th of December 2003
In his quarterly Monetary Policy Statement released today, Dr Bollard left the Official Cash Rate (OCR) unchanged at 5.00 per cent.

Home owners with mortgages, who have seen house prices rocket 17 per cent in the past year, will breath easier. But so will exporters as the slightly surprising announcement is likely to ease pressure on the runaway New Zealand dollar that was nudging US65 cents just before the announcement.

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