The New Zealand Official Cash Rate experienced no cuts or additions in its 30th of June review. For the second review in a row Reserve Bank Governor Alan Bollard has opted not to increase the Official Cash Rate (OCR) of New Zealand. The change came as no big surprise to commentators or market participants, with no movements of particular note to be seen on the foreign exchange or equity market. In regards to the decision, Alan Bollard, in a Reserve Bank release said ... Read More

Analysts outlook has predicted that the Reserve Bank will not make any further cuts to the Official Cash Rate (OCR) in its July 30th revision. The New Zealand OCR as set by the Reserve bank is currently at 2.5%. With an end seemingly in sight for New Zealand and the recession it is now facing, there is no obvious need for further reductions in the OCR, which is already at a record low level. A survey conducted by Reuters of 16 analysts has ... Read More

On the 24th of April, Prime Minister John Key announced two new appointments to join the Reserve Bank’s Board of Directors. Sue Sheldon and Keith Taylor have been appointed as the new directors to the Reserve Bank’s Board of Directors. Keith Taylor is a Wellington based professional director and a consultant, with a history in the insurance industry and as a chief executive and chief financial officer of Tower. He has also had experience at the Earthquake Commission, Government Superannuation Fund Authority ... Read More

The Official Cash Rate (OCR) of New Zealand has been cut to 3%. The Reserve Bank has taken an expected move and once again cut the New Zealand OCR by 50 basis points, bringing it to 3%, from its previous position of 3.5%. At first glance, the move is a relatively small one, especially since it has been preceded by numerous previous cuts, many of a much greater magnitude. The smaller cuts were driven by the Reserve Bank’s relatively positive future outlook for ... Read More