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RBNZ Can Vote To Make Decisions

RBNZ

RBNZ Governor Orr stated that a “vote” is a tool available to the central bank to make decisions. The May meeting was the first time this option has been used and the vote was 5-2 in favour of the 25bp hike. But Orr made it clear that the Committee as a whole stood by the decision. They were in “broad agreement” on the monetary policy outlook but not on the OCR itself.

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