RBNZ signals impending rate rise
The Reserve Bank of New Zealand (RBNZ) will raise its official cash rate (OCR) "soon" as inflationary pressures continue to build but, for the time being, will keep it on hold at 2.5%.
Annual CPI inflation rose to 1.6% in the third quarter of 2013 and governor Graeme Wheeler warned in today's monetary policy statement that "inflationary pressures are expected to increase" over the next two years.
Wheeler first hinted in October that a rate rise would "likely be required in 2014". Today he
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