No “urgency” to exit as Kiwis hold rates

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The Reserve Bank of New Zealand voted to hold its key interest rate at 2.5% for the fourth month in a row.

Alan Bollard, the central bank's governor, said tightening monetary policy made no sense given the relatively fragile economic environment, and suggested interest rates would stay at the current level until at least midway through next year.

"In contrast to current market pricing, we see no urgency to begin withdrawing monetary policy stimulus, and we expect to keep the OCR at the current l

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