RBNZ Holds Rates, Surprising Markets
The Reserve Bank of New Zealand’s monetary policy committee voted 4-3 to hold rates steady Wednesday, despite markets having priced in a near-certain hike. It signaled further increases were likely.
By James GlynnSYDNEY--The Reserve Bank of New Zealand held interest rates steady Wednesday, surprising financial markets that had priced in a near-certain hike, but signaled that further increases were likely.The monetary policy committee voted 4 to 3 to hold the official cash rate steady at 2.75…