Economic policy: The RBNZ building (centre) in Wellington. The bank says the recent resilience in the domestic economy implies that no significant additional stimulus is required at this time. — Bloomberg
WELLINGTON: New Zealand’s central bank held its official cash rate at a record low of 0.25% yesterday, as expected, saying the current levels of monetary stimulus were needed to meet its consumer price inflation and employment remit.
The Reserve Bank of New Zealand (RBNZ) also retained its large scale asset purchase (LSAP) programme at NZ$100bil (US$73.24bil). The Funding for Lending Programme (FLP) operation was unchanged.
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