RBNZ leaves interest rates unchanged

The Reserve Bank of New Zealand left interest rates unchanged at 6.50 per cent on Thursday. RBNZ governor Alan Bollard said the tightening in monetary policy over the past year currently looks sufficient to keep medium-term inflation pressures in check.

Reserve Bank Governor Alan Bollard said that "We continue to expect that the current policy position will achieve inflation between 1 and 3 per cent on average over the medium term. This outlook assumes that significant pipeline effects from p