RBNZ holds OCR unchanged at 7.25 per cent

The Reserve Bank of New Zealand announced on Thursday 26 January that the Official Cash Rate (OCR) will remain unchanged at 7.25 per cent.

Reserve Bank Governor Alan Bollard said: "The economy has continued to slow in recent months, broadly in line with the outlook contained in our December Monetary Policy Statement. GDP growth slowed in the third quarter of 2005, due to the impact of the high exchange rate on the export and import-competing sectors, and a fall in construction. Looking to 2006

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