RBNZ raises OCR to 7.75 percent

The Reserve Bank of New Zealand said Thursday 26 April its Official Cash Rate (OCR) will increase by 25 basis points to 7.75 percent.

Recent indicators confirm that the resurgence in economic activity that began in late 2006 has continued over recent months, with domestic demand continuing to expand strongly. As we noted in March, demand is being fuelled by a buoyant housing market, increases in government expenditure, a rising terms of trade, ongoing net immigration, and a robust labour marke

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