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Banking / Investment in New Zealand

  • New Zealand's central bank holds rates at record low of 2.5%

    NEW ZEALAND, 2013/04/29 New Zealand's central bank left interest rates at a record low of 2.5 % on Thursday and predicted they would remain there for the rest of the year. The official cash rate has been unchanged since March 2011 and the Reserve Bank of New Zealand said there was little prospect of movement in 2013 amid an uneven economic recovery.

  • RBNZ Sees Stronger Growth During Next 2 Yrs

    NEW ZEALAND, 2012/12/11 The Reserve Bank of New Zealand on Thursday decided to retain its benchmark Official Cash Rate (OCR) unchanged at 2.5 %, as expected. At the same time, the central bank noted that economic increase may accelerate over the next two years. The central bank has been holding the rate at the current record low level since April last year."Economic increase has slowed in recent months and has been accompanied by low inflation and rising unemployment," RBNZ Governor Graeme Wheeler said in a statement after the monetary policy meeting. "Over the next two years, increase is expected to accelerate to between 2.5 and 3 % per annum."
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