RBNZ keeps rates unchanged but signals future cuts

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The Reserve Bank of New Zealand (RBNZ) kept interest rates unchanged today (June 26), but said the economy may soon need a more accommodative policy due to lower international and domestic growth.

The monetary policy committee left the official cash rate (OCR) at 1.5%. But it said the economic outlook had “softened” since its previous statement in May. Rate-setters “agreed that a lower OCR may be needed to meet its objectives, given further deterioration in the outlook for trading-partner

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