The New Zealand Official Cash Rate (OCR) remains unchanged at 2.5 percent.

Date 10 December 2009
The New Zealand Official Cash Rate (OCR) remains unchanged at 2.5 percent.

Reserve Bank Governor Alan Bollard said: “The New Zealand economy continues to recover but there remains considerable uncertainty about the durability of the expansion

“If the economy continues to recover, conditions may support beginning to remove monetary stimulus around the middle of 2010. Recent tightening in financial conditions, driven by a higher exchange rate, increased long-term interest rates and a wider gap between the OCR and bank funding costs, reduces the need for more immediate action.”