The Reserve Bank of New Zealand has decided to not increase interest rates for the third consecutive month.
The cash rate remains at 5.5 per cent which is the highest it’s been since 2008.
The Reserve Bank says GDP growth in the June quarter was stronger than anticipated with inflation beginning to stabilise in the country.
Inflation is currently sitting at six per cent – down from 7.2 per cent last month.
New Zealand Prime Minister Chris Hipkins said, according to the economic forecast he received, inflation should return to normal by around this time this year.
