Official cash rate on hold at 1.75 per cent

The NZ dollar dropped by about three quarters of a US cent and fell sharply against the Aussie after the Reserve Bank gave a far more dovish than expected message at it latest review of the official cash rate.  It held the official cash rate at 1.75 per cent, saying major challenges remain with ongoing surplus capacity and global political uncertainty.

The NZ dollar dropped by about three quarters of a US cent and fell sharply against the Aussie after the Reserve Bank gave a far more dovish than expected message at it latest review of the official cash rate.  It held the official cash rate at 1.75 per cent, saying major challenges remain with ongoing surplus capacity and global political uncertainty.

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