WELLINGTON, June 26 (Reuters) - Members of the Reserve Bank of New Zealand's monetary policy committee agreed to hold the official cash rate steady at a review on Wednesday but noted that it may need to be lowered in the future, minutes of their meeting showed.
The RBNZ held the official cash rate (OCR) at a record low of 1.50%, having cut the rate by 25 basis points at their previous meeting.
"The Committee discussed whether additional monetary stimulus was necessary given continued falls in global growth and subdued domestic demand. The members agreed that more support from monetary policy was likely to be necessary," the minutes of the meeting said. (Writing by John Mair Editing by Shri Navaratnam)