Held rate keeps NZ sharemarket flat
The New Zealand sharemarket was flat in early trading after Reserve Bank governor Alan Bollard surprised no one by leaving the official cash rate unchanged at 3 per cent.
The New Zealand sharemarket was flat in early trading after Reserve Bank governor Alan Bollard surprised no one by leaving the official cash rate unchanged at 3 per cent.
Explaining his decision, Dr Bollard highlighted recent economic data that was weaker than expected and pointed to support coming from continued high export prices, and reconstruction after the Canterbury earthquake.
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