- The Reserve Bank says house prices are still increasing at “excessive” speed, but that new lending restrictions may be starting to bite.
On Thursday the central bank left the benchmark official cash rate (OCR) at 2 per cent, a move widely expected by the financial markets.
Governor Graeme Wheeler also hinted that the current thinking of the bank was for interest rates to go lower in coming months, in a bid to weaken the kiwi dollar.
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