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Old Mortgage News

Bollard leaves OCR unchanged but surpises with hawkish tone

Thursday 9th of December 2004
"There are no surprises in the decision but there’s a few surprises in the tenor," says Cameron Bagrie, an economist at ANZ National Bank. "They’ve come out a lot more hawkish than the market expected. It’s lit a fire under the currency."

Market reaction was strong, particularly in the New Zealand dollar which climbed half a US cent to 71.30 cents and shot through 94 Austra...

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