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MNI BRIEF: RBNZ Leaves Rates on Hold

MNI (Sydney)

The Reserve Bank of New Zealand left its official cash rate unchanged at the record low of 0.25% today and agreed to maintain its NZD100 billion program of Quantitative Easing.

The RBNZ statement said the bank "agreed to maintain the current stimulatory settings" for monetary policy and that achieving targets for inflation and employment "will necessitate considerable time and patience."

The bank said it was still prepared to lower interest rates further if required.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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