The Reserve Bank held official interest rates at 2.50% in yesterdays announcement, but said they may start to rise around the middle of 2010 if the economy keeps recovering. In previous statements the central bank had said rates would not move up till "the second half of 2010".
Also, in other news yesterday BNZ's latest general disclosure statement (GDS) showed net profit for the three months ended September was just $2 million compared with $196 million in the corresponding period last year.
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