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RBNZ on hold, but more anxious about high NZD
RBNZ on hold, but more anxious about high NZD
The RBNZ this morning left the official cash rate (OCR) unchanged at 2.5%, in line with our’s and market expectations, but the accompanying commentary undoubtedly was more dovish. Governor Bollard reiterated that the OCR would remain “at or below” current levels until the end of 2010, but the verbiage surrounding his anxiety about continued NZD strength was firmer than that used previous
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