Published:  02:59 AM, 11 August 2017

New Zealand holds interest rate at record low


The New Zealand central bank kept its base rate at a record low 1.75 percent on Thursday with no sign of a change in the near future.

Governor Graeme Wheeler, who retires next month, said economic growth was expected to improve in the coming months supported by strong population growth and the government spending detailed in the May budget.

But he said headline inflation was likely to decline in coming quarters as the effects of higher fuel and food prices dissipate.

-AFP, Wellington

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