RBNZ leaves its cash rate unchanged, they were expected to hike

I’ll have more to come on this separately … once I pick my jaw up off the floor. 

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Background:

• All 5 major NZ banks expect RBNZ to hike to 3% today, but split on how far rates will go

• Preview: RBNZ set to lift OCR to 3% ahead of election as oil and weak kiwi fuel inflation
• NZIER Shadow Board majority backs 25bp RBNZ hike to 3% as oil and weaker kiwi bite

Reserve Bank of New Zealand Governor Breman 

This article was written by Eamonn Sheridan at investinglive.com.