Reserve Bank of New Zealand Press Release

PRESS RELEASE - OCR unchanged at 5.75 per cent, 23 January.

The Reserve Bank today left the Official Cash Rate unchanged at 5.75 per cent.

Governor Alan Bollard said "A key development since November has been a further sharp rise in the New Zealand dollar against all major currencies. If sustained, we expect the higher exchange rate to dampen future economic activity and, hence, medium-term inflation pressures.

"However, current domestic economic activity appears to be more robust than we

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