RBNZ holds steady. Cash rate remains at 1.75%
The cost of paying your mortgage is set to rise this year as interest rates head up.
The Reserve Bank will now issue formal projections of the future expected Official Cash Rate
After cutting the cash rate by 25 basis points last month, the RBNZ in late April decided to keep interest rates steady at 2.25%. Despite a stronger New Zealand Dollar and ongoing low inflation, there have been no clear signs that the New Zealand economy has deteriorated significantly since the RBNZ last met.
What's the RBNZ thinking?