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Article: Roundup: New Zealand Reserve Bank leaves rate unchanged at 2.5 percent
- Article from:
- Xinhua News Agency
- Article date:
- July 29, 2009
CopyrightCopyright 2009 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Roundup: New Zealand Reserve Bank leaves rate unchanged at 2.5
percent
WELLINGTON, July 30 (Xinhua) -- New Zealand's Reserve Bank left
the Official Cash Rate unchanged at 2.5 percent on Thursday.
In announcing the decision on Thursday morning, Reserve Bank
Governor Alan Bollard said the bank did not expect the economy to
recover for some time.
"Despite signs of a leveling off in economic activity, the
economy remains weak. We continue to expect to see a patchy recovery
get underway toward the end of the year, but it will be some time
before growth returns to healthy levels," he said in a statement.
"The outlook remains highly uncertain. New Zealand's merchandise
exports are heavily ...