New Zealand’s central bank leaves rates on hold

New Zealand’s central bank left interest rates at a record low of 2.5 per cent on Thursday, saying it expected modest short-term domestic growth amid rising unemployment and low inflation.

The Reserve Bank of New Zealand said that while economic growth was expected to rise to 2.5-3.0 per cent over the next two years “on balance, it remains appropriate for the OCR (official cash rate) to be held at 2.5 per cent”.

via Business feed http://www.scmp.com/business/economy/article/1098844/new-zealands-central-bank-leaves-rates-hold