Brash says no rate cut could have sent NZ $ down

Reserve Bank Governor Don Brash said on Mar 14, 2001 that not cutting the official interest rate (OCR) may have had the paradoxical effect of bringing easier monetary conditions through a lower exchange rate. The central bank earlier in the day cut the OCR to 6.25 percent from 6.50, but Brash emphasised that it was a "finely balanced" decision.

Brash, answering questions at Parliament's finance and expenditure committee meeting from opposition National Party's finance spokesman Bill English, s

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