Reserve Bank keeps OCR at 1.75 per cent

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NZN

Acting Reserve Bank governor Grant Spencer has kept the Official Cash Rate at 1.75 per cent today.

New Zealand currency fifty dollar note money

New Zealand currency fifty, dollar note (file picture).

Source: istock.com

Economists tipped the OCR would remain unchanged at the record low rate.

All 13 economists polled by Bloomberg earlier this week saw rates staying at the current level.

Rates have been on hold since November last year, when they were cut by 25 points.

Today's decision comes after the weekend's general election saw no outright winner.

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