The Reserve Bank today left the Official Cash Rate unchanged while saying major challenges remain.
The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75%. Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty. Headline inflation has increased over the past year in several countries, but moderated recently with the fall in energy prices. Core inflation and long-term bond yields remain low
The Reserve Bank’s decision to hold the OCR at 1.75% was expected, but economists are surprised at its projection the OCR will remain on hold until late 2019.
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