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AAP

Ben McKay

NZ Reserve Bank holds rates at 5.5 per cent

Adrian Orr Inflation New Zealand

The Reserve Bank of New Zealand believes inflation will be back in the bottle by year's end after holding the official cash rate at 5.5 per cent.

The April meeting of the RBNZ's monetary policy committee resolved to hold the OCR for the sixth-straight meeting, dating back to May last year.

Governor Adrian Orr has previously summarised the central bank's position as "watch, worry, and wait".

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