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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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