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WELLINGTON, May 10 (Reuters) - The Reserve Bank of New Zealand (RBNZ) on Thursday held rates at a record low 1.75 percent and said the next move could be up or down, though it expected to keep policy this expansionary for a considerable period of time.
"The direction of our next move is equally balanced, up or down. Only time and events will tell," said governor Adrian Orr, in a statement accompanying his first monetary policy decision since he took up the helm in March.
The New Zealand dollar NZD=D4 fell to $0.6951, from $0.6990 before the statement.