Reserve Bank Governor Alan Bollard said "while it is appropriate to keep the OCR on hold today, it remains likely that further removal of monetary policy support will be required at some stage."
Further comment from the Governor stated that with the recent increase in the rate of GST, it is expected that the headline inflation will rise however the subdued state of domestic demand suggests the inflation spike will have limited impact on medium-term inflation expectations.
There was also comment on our household 'caution' when it comes to our spending and the housing market activity being 'muted'.
With this latest news if you are looking at how best to take advantage of the interest rates while they are low and remain steady give us a call and lets talk through the options available to you.
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