New Zealand holds rates

PRESS RELEASE - The Reserve Bank has decided to leave the Official Cash Rate at 5.75 per cent, 6 March.

Speaking at the release of the Reserve Bank's March 2003 Monetary Policy Statement Reserve Bank Governor Alan Bollard said "On 23 January 2003, we stated that `If the exchange rate remains at around present levels or appreciates further, and if the evidence points to reduced pressures on resources and medium-term inflation, then there may be scope for a cut in the OCR later in the year.'

"Tod

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