WELLINGTON: New Zealand’s central bank has not changed its guidance on keeping interest rates unchanged until March next year, but is hoping to be operationally ready to deploy negative rates by year end if they are needed, a senior official said.
The Reserve Bank of New Zealand (RBNZ) held the official cash rate (OCR) at 0.25% on Wednesday and appeared more optimistic about the economy, which led markets to pare chances of negative rates next year, sending the New Zealand dollar soaring.
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