New Zealand Central Bank Holds Rates at 2.75%, Surprising Markets
The Reserve Bank of New Zealand kept its official cash rate at 2.75% after a split policy-board decision. Money markets had considered another hike nearly certain.
By James GlynnSYDNEY--The Reserve Bank of New Zealand held interest rates steady at a policy meeting on Wednesday, surprising money markets that had considered a further hike a near certainty.The official cash rate was held at 2.75% after a split decision by the bank's policy-setting board, with t…