Thursday: Record-Low and Orr

thursday: Bank Governor Adrian Orr on Thursday announced the rate would stay unchanged at its record-low 1.75 per cent, where it has been since late 2016, according to Nine News Australia. However, in a surprise that comes amid warnings from Treasury this week that growth predicted earlier in the year may ease, the central bank pushed out its expectation for an official cash rate OCR move by a full year, from September 2019 to September 2020. To improve your experience update it here News WorldNZ Reserve Bank may hold rate until 20202 07pm Aug 9, 2018Facebook Tweet Mail The Reserve Bank of New Zealand says it might not move the official cash rate for more than two years as it adds to voices pointing to a speed-bump in economic growth. The recent slower economic growth gives us more confidence that there is no immediate capacity pressure leading to the rising inflation, Mr Orr said. But its broader economic forecasts on Thursday were carefully watched after Treasury suggested earlier this week that forecasts in May's government budget could soften by year-end, largely on the back of a cooling housing market and global tensions. The bank has stayed neutral about whether the next move will be up or down. (news.financializer.com). As reported in the news.