News

RBNZ increases rates

Wednesday 20th of March 2002
The Reserve Bank today increased the Official Cash Rate from 4.75% to 5%.

Reserve Bank governor Don Brash recalled: "In the last few months of 2001, the OCR was reduced by 100 basis points because we were concerned about the deflationary risks arising from a very weak world economy.

"Since our last Statement, the New Zealand economy has been stronger...

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