The RBNZ expects interest rates to remain at 2.50% till mid 2010
The Reserve Bank of New Zealand decided today to keep interest rates at its low level of 2.50% for the seventh straight meeting. Allan Bollard the Governor of the RBNZ said the bank will maintain its policy till mid-2010, before deciding to raise interest rates. Weak domestic spending in New Zealand, besides the decline in house prices, are affecting economic recovery negatively that is forcing the central bank to keep rate steady at its low levels in order to support the economy and the credit
The RBNZ expects interest rates to remain at 2.50% till mid 2010
