August 8, 2018 / 11:07 PM / in 2 years

Reserve Bank of NZ governor says risks evenly balanced for interest rate cut or hike

WELLINGTON (Reuters) - New Zealand’s central bank governor said on Thursday that it was in no rush to move rates from their current record low of 1.75 percent and that risks warranting a hike or a cut were very evenly balanced.

“We’re in no rush to be moving,” governor Adrian Orr told reporters, referring to the official cash rate.

The comments came at a news conference following the bank’s decision to keep rates on hold at a record low of 1.75 percent and signaled it would keep rates on hold into 2020.

Reporting by Charlotte Greenfield and John Mair in WELLINGTON; Editing by Sandra Maler

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