News
Reserve Bank leaves rates unchanged
Sunday 26th of October 2003
The central bank said in a statement today that the official cash rate at 5 per cent was still able to hold inflation within its target range of between 1 per cent and 3 per cent.
Inflation remains steady at 1.5 per cent, although Reserve Bank Governor Alan Bollard has warned it is likely to rise to just below the ceiling within two years.
A booming house market, fuelled by continued net migration and low mortgage rates, is currently being balanced by a weaker export sector.
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