He commented: "At the March MPS we expressed concern about the persistence of inflation pressures in the economy which were severely limiting our inflation headroom. We still take that view. While recent indicators have shown signs of
The Reserve Bank of New Zealand left the OCR unchanged at 6.75 per cent on Thursday 28 April. In a statement RBNZ governor Alan Bollard said underlying inflation pressures are persisting, as evidenced by rising business costs and ongoing labour market tightness.