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Bollard gives a bit but signals warning on house prices

Thursday 24th of July 2003

Indeed, David Drage, chief economist at ANZ Bank, sees the wording of today’s statement as "somewhat more neutral" than the reasoning behind Bollard’s previous decisions and rates the probability of a further rate cut in September, when the central bank releases its next monetary policy statement, as "less than 50%."

Bollard acknowledges that activity and inflation in some parts of the e...

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