Business & Finance
New Zealand leaves interest rates unchanged
WELLINGTON : New Zealand 's central bank left interest rates at a record low of 2.5 percent Thursday, citing the risk o
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WELLINGTON: New Zealand's central bank left interest rates at a record low of 2.5 percent Thursday, citing the risk of a sharp slowdown in global economic activity.
The Reserve Bank of New Zealand said the domestic economy had proved surprisingly strong but that was not enough to lift rates in the face of a weakened global outlook and deteriorating sentiment on world markets.
"The outlook for New Zealand's trading partners has deteriorated markedly," it said in a statement. "There is now a real risk that global economic activity slows sharply."
Copyright AFP (Agence France-Presse), 2011
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