Reserve Bank of New Zealand June 2019 monetary policy decision
Cash rate stays at 1.5%, as was unanimously expected
weaker global economic outlook
risk of ongoing subdued domestic growth
a lower OCR may be needed over time
Domestic growth has slowed over the past year
construction activity strengthened in the March 2019 quarter
growth in the services sector continued to slow
Softer house prices and subdued business sentiment continue to dampen domestic spending
global economic outlook has weakened
downside risks related to trade activity have intensified
Given the downside risks around the employment and inflation outlook, a lower OCR may be needed.
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