official cash rate tagged posts
June 13, 2013 New Zealand Finance
The rate of New Zealand’s OCR remains unchanged due to some unfavorable economic conditions nationally and worldwide.
On June 13th the Reserve Bank of New Zealand announced that the Official Cash Rate of New Zealand will remain unchanged at the current level of 2.5 percent.
The governor of the Reserve Bank Graeme Wheeler explained that the economic conditions in New Zealand and around the world do not yet warrant a shift in the Cash Rate, and the current economic forecasts indicate that the OCR will remain at 2.5 percent for the rest of the year.
Summarizing the current economic environment of New Zealand Graeme Wheeler said that the economic growth of the country is expanding, but is uneven across different industries.
He added that the New Zealand dollar is still overvalued and is having...Read More
October 25, 2012 New Zealand Finance
Photo by yum9meThe Reserve Bank announced on October 25th that the Official Cash Rate (OCR) of New Zealand will be left at 2.50 percent for another term.
The latest OCR announcement is the first policy review announced by the new Reserve Bank governor Graeme Wheeler, who took the position following Alan Bollard.
Graeme Wheeler explained that it is appropriate to leave the OCR at 2.5 percent “for now” as “the global economy remains fragile, with further recovery heavily dependent on policy implementation. That said, market sentiment has improved from earlier in the year, suggesting the risks to the global outlook are more balanced.”
The economic conditions in New Zealand were described as mixed, with GDP growth continue at a “modest pace” and the housing market expanding as previously pre...Read More
July 26, 2012 New Zealand Finance
The Reserve Bank has left the OCR unchanged, due to the continued poor economic outlook overseas.
While speaking at a press conference in Wellington on July 26th the governor of the Reserve Bank Alan Bollard revealed that the New Zealand Official Cash Rate (OCR) would be maintained at its current level of 2.5 percent.
The governor said that “it remains appropriate for the OCR to be held at 2.5 percent”, as the country’s economic outlook has remained consistent with forecasts made at the previous OCR review in June. He elaborated, saying that the economic outlook for New Zealand’s key trading partners remains low.
The Reserve Bank still expects economic activity in New Zealand to grow “modestly over the next few years”, with the housing market still expected to pick up with the ongoing reco...Read More
June 14, 2012 New Zealand Finance
The New Zealand Official Cash rate will not be changed today, as the Reserve Bank remains cautious over the potential for economic downturns in Europe.
On June 14th the Governor of the Reserve Bank Alan Bollard announced that the New Zealand Official Cash Rate would be left unchanged at the current level of 2.50 percent.
The Governor explained that the decision to leave the OCR at 2.5 percent was because “…New Zealand’s economic outlook has weakened a little since the March Monetary Policy Statement“.
According to Alan Bollard, New Zealand has recently seen ongoing deterioration in its economic indicators, and there is still some risk of further economic instability in the euro area...Read More