The Reserve Bank of New Zealand announced Thursday 27 July that the Official Cash Rate (OCR) will remain unchanged at 7.25 per cent. Reserve bank governor Alan Bollard said: "Recent economic developments have been broadly in line with our June Monetary Policy Statement."
"However, economic activity has been a little stronger than expected. Indicators of both consumer demand and business activity have not softened to the degree anticipated. We are also seeing slightly more short-term inflation
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