WELLINGTON, March 23 (Reuters) - New Zealand’s central bank held its benchmark interest rate at 1.75 percent on Thursday, and reiterated that it would stay on hold for a “considerable” period of time.
“Numerous uncertainties remain, particularly in respect of the international outlook and monetary policy may need to adjust accordingly,” Reserve Bank of New Zealand governor Graeme Wheeler said in a statement accompanying the decision.
All 32 economists polled by Reuters had expected no change to the bank’s official cash rate (OCR), which was lowered by 25 basis points to the current record low in November. Many are forecasting that rates will stay stable throughout 2017.[NZ/POLL
For the text of the statement double click on (Reporting by WELLINGTON and SYDNEY newsrooms; Editing by Toby Chopra)