Mortgage News

Reserve Bank keeps OCR on hold

Thursday 26th of July 2012

Bollard held his official cash rate (OCR) unchanged at its 2.5% record low and said the outlook remains consistent with his June monetary policy statement. There was minimal reaction in financial markets.

"The Reserve Bank's outlook is broadly unchanged. They expect the recovery to be modest and the rebuilding activity in Christchurch will underpin the recovery," says Christina Leung, an...

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