Breaking: RBNZ leaves OCR steady at 0.25%, expands QE to NZD100 billion

The Reserve Bank of New Zealand (RBNZ) board members decided to leave the Official Cash Rate (OCR) unchanged at a record low of 0.25% for the third straight month in August, as much anticipated.

The RBNZ expanded its quantitative easing (QE) programme size to NZD100 billion.