New Zealand leaves rates at 8.25%

The Reserve Bank of New Zealand decided on Thursday to hold its benchmark official cash rate at 8.25%.

Alan Bollard, the governor of the Reserve Bank, said: "The outlook for the economy and interest rates remains broadly consistent with the view outlined in the September monetary policy statement."

Wages continued to grow on the back of strong commodity prices and that core inflationary pressures persist, Bollard said. Fiscal policy was also adding to inflationary pressures and further easing

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