Reserve Bank of New Zealand holds rates at all-time low
[WELLINGTON] The Reserve Bank of New Zealand (RBNZ) held its official cash rate at 0.25 per cent in a widely expected move on Wednesday and maintained its large scale asset purchase (LSAP) programme at NZ$60 billion (S$53.8 billion).
Economists in a Reuters poll had unanimously expected RBNZ to hold rates.
"The Monetary Policy Committee is prepared to provide additional stimulus as necessary," the RBNZ said in a post-meeting statement.
"As well as potentially expanding the LSAP programme, the Committee continues to prepare for the use of additional monetary policy tools as needed."
REUTERS
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