'Cloud' prompts N.Z. to leave rates on hold

NEW ZEALAND - New Zealand left its official cash rate unchanged at 5.75 percent Wednesday, citing the global economy's "increasingly clouded" prospects.

Reserve Bank of New Zealand acting Governor Rod Carr said that while the country's economy had performed well over the past year, the odds of an international slowdown had increased.

He also noted the bank's concerns over high core inflation of around 3 percent.

New Zealand last moved on rates on 3 July, when it lifted by a quarter of a perce

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