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Bollard holds rates steady but hawkishness exceeds expectations

Thursday 7th of December 2006
He left the OCR unchanged at 7.25% but has raised his forecast of where 90 day bank bills are heading by about 20 basis points which is also about 20 points higher than they were before the statement.

"It looks like they've factored in a hike without saying so. How are they going to get there without a hike," says Robin Clements, an economist at UBS New Zealand.

The New Zealand dollar...

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