30.04.2015 - Monetary policy in New Zealand remained unchanged
The Reserve Bank of New Zealand kept interest rates unchanged. At the same time, the regulator noted the possibility of lowering rates in case of a fall of inflation below the target range of 1-3%. At the moment, the interest rate is 3.5%. Rising interest rates are not currently being considered. The head of the RBNZ said that the growth of the New Zealand amid falling export prices at the moment is undesirable. In the near future the dynamics of the New Zealand currency will depend on the US and Australian dollar, and prices for dairy products as the main export product of the country. We expect a further decline of quotations in the near future.