Thursday, December 10, 2009

The Reserve Bank chose not to change the Official Cash Rate in today's six-weekly review.

Forsyth Barr investment advisor Tony Conroy says investor focus was on the review's accompanying statement, which dropped the previous insistence on rates remaining at current levels until late 2010.

According to Conroy, the statement took a lighter stance, effectively stating that rates may need to rise sooner than previously predicted due to the economy picking up earlier than expected.

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