RBNZ keeps rate unchanged despite interest rate sp

- Central Banking staff
- 16 Aug 2000

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The Reserve Bank of New Zealand left interest rates unchanged at 6.5% despite inflation nudging the top of the bank's inflation target zone. Don Brash has said in the past that the Reserve Bank can live with a short-term spike in inflation as long as inflation is expected over the 12-24 month horizon to come back nearer to the middle of the 0-3% target zone.

Following the decision, Brash said there was much uncertainty about the outlook, especially because economic data in small countries like

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