RBNZ leaves interest rate unchanged at 1.75%, direction of next move is equally balanced, up or down

In a widely expected decision, the Reserve Bank of New Zealand (RBNZ) has left its official cash rate unchanged at 1.75%.

The RBNZ won't be publishing its usual monetary policy statement or an updated forecast following its latest meeting. Below are the key highlights from the one-page summary.

•  OCR to remain at 1.75 pct for some time to come.
• Keeping OCR at current level is best contribution to maximising sustainable employment and low and stable inflation.
• Expects to keep the OCR at this expansionary level for a considerable period of time.
• Direction of next move is equally balanced, up or down.
• Consumer price inflation remains below target.
• Policy to be supportive for some time to come.
• Employment around a sustainable level.