Thursday, April 30, 2009

Bollard cuts interest rates to all time low

Its just been reported that Allan Bollard has taken 0.5% off the official cash rate, bringing it down to 2.5%.Bollard said:
We consider it appropriate to provide further policy stimulus to the economy. We expect to keep the OCR at or below the current level through until the latter part of 2010. The OCR could still move modestly lower over the coming quarters.


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