WELLINGTON, Aug 10 (Reuters) - New Zealand's central bank on Thursday kept interest rates steady at record lows of 1.75 percent as widely expected and said they would remain accommodative for a considerable period.
It said non-tradeable inflation remains moderate but is expected to increase gradually as capacity pressure increases.
The central bank also said a lower New Zealand dollar
would be favourable. "The trade-weighted exchange rate has increased since the May Statement, partly in response to a weaker U.S. dollar," RBNZ Governor Graeme Wheeler said in a statement.
"A lower New Zealand dollar is needed to increase tradables inflation and help deliver more balanced growth."
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