Reserve Bank of New Zealand Official Cash Rate unchanged at 1.75 percent, says low food, import price inflation, subdued wages keeping inflation down

Market news

10 May 2018

Reserve Bank of New Zealand Official Cash Rate unchanged at 1.75 percent, says low food, import price inflation, subdued wages keeping inflation down

CPI remains below 2 pct
Sees official cash rate at 1.9 pct in september 2019 (pvs 1.9 pct)
Cash rate at 2.4 pct in june 2021
Have seen an unprecedented increase in employment
Expect to keep OCR at this expansionary level for a considerable period of time
Immigration adding to the supply of labour
The direction of our next move is equally balanced, up or down
Global inflation pressures are expected to rise but remain contained

Reserve Bank of New Zealand governor Orr says easiest decision had to make in several years, "we can keep the OCR where it is for considerable period of time"

Eurostoxx 50 futures up 0.28 pct, DAX futures up 0.27 pct, FTSE futures up 0.6 pct, CAC 40 futures up 0.17 pct

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