RBNZ keeps interest rates unchanged

RBNZ kept interest rates unchanged at 1.75%. The main points of interest statement were as follows:
• Employment rates remain near their highest sustainable levels, but inflation is below the bank's average target of 1% to 3%.
• Economic developments since the August meeting do not call for a change in current policy.
• The economy continued to slow in mid-2019, reflecting weak business and household spending.
We expect the slowdown to continue for another year.
• We will continue to monitor developments closely and take action as necessary.
• Improved global trade and manufacturing are still weak.
• Uncertainty stabilizes near highs.
• New Zealand commodity exports have rebounded.
• The New Zealand dollar exchange rate this year provides useful additional compensation for the weak global economic environment.
• Domestic demand is expected to rebound in 2020, supported by lower interest rates, higher wage rates, increased government spending and investments.
• Low interest will support investments by reducing lending rates.
• We need to keep interest at low levels.
• Current monetary policy supports economic growth and inflation.
• The Committee discussed the impact of low interest rates on financial stability. Members noted risks to the integrity of the financial system.