Shadow Board says keep interest rates on hold for now
13 March 2013
"The NZIER Shadow Board suggests holding the official cash rate at 2.50 percent is the best strategy,” said Dr Kirdan Lees, Head of Public Good Research at NZIER.
“The economy is caught between two risks. Drought will stifle production. But rising house prices, fuelled by surging mortgage growth, present an upside risk to inflation.”
“On balance, keeping interest rates on hold has the most support within the Shadow Board. An interest rate cut continues to have more support than raising interest rates.”
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