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Reserve Bank sees further house price falls
Wednesday 15th of December 2010
The continued housing market slump was one factor cited by the central bank for its decision to leave the OCR at 3%.
RBNZ governor Alan Bollard said "current low interest rates are having a less stimulatory effect than in the past."
"Despite the floating mortgage rate being below its historic norm, activity in the housing market has weakened further."
"While some of this...
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