Investing.com - The Reserve Bank of New Zealand left the official cash rate unchanged at a record low 2.0% on Thursday as expected and retained an easing bias citing a high exchange rate.
"Monetary policy will continue to be accommodative. Our current projections and assumptions indicate that further policy easing will be required to ensure that future inflation settles near the middle of the target range. We will continue to watch closely the emerging economic data," the RBNZ said in a statement that repeated earlier language.
"A decline in the exchange rate is needed," it added.
Data since the last review had painted a mixed picture for trhe economy and the global outlook also is a concern, the central bank said.
"Volatility in global markets has increased in recent weeks, with government bond yields rising and equities coming off their highs," the RBNZ said.