RBNZ Retained Monetary Stance, Raised Growth Outlook But Remained Cautious

[Forex-Outlook]

As we and the market expected, the RBNZ left the OCR unchanged at 2.5% and reiterated the stance to 'removing policy stimulus around the middle of 2010'. The quarterly MPS also revealed modest upgrades in 2011 GDP growth and inflation. However, potential GDP growth in 2010 has been revised downward....

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