Official Cash Rate Unchanged

Official Cash Rate Unchanged

Alan Bollard left the Official Cash Rate unchanged this morning.  He commented as follows..

“”If the economy continues to recover, conditions may support beginning to remove monetary stimulus around the middle of 2010. Recent tightening in financial conditions, driven by a higher exchange rate, increased long-term interest rates and a wider gap between the OCR and bank funding costs, reduces the need for more immediate action.””

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