OCR remains unchanged at 1.75%

The Reserve Bank yesterday left the Official Cash Rate (OCR) unchanged at 1.75 percent.

Reserve Bank governor Grant Spencer said "house price inflation has increased somewhat over the past few months but housing credit growth continues to moderate. 

Monetary policy will remain accommodative for a considerable period. Numerous uncertainties remain and policy may need to adjust accordingly."  

This means that it's unlikely the OCR will be changed in the short term.

His full statement can be read here: https://www.rbnz.govt.nz/news/...