WELLINGTON, Feb 13 (Reuters) - The Reserve Bank of New Zealand (RBNZ) on Wednesday held the official cash rate (OCR) at a record low of 1.75 percent and emphasised that policy will remain accommodative for a considerable period.
"The direction of our next OCR move could be up or down," said governor Adrian Orr in a statement accompanying the policy decision, adding that the central bank expects to keep rates at their current level through 2019 and 2020.
The New Zealand dollar NZD=D4 jumped 1.3 percent to a one-week high of $0.6827 after the decision was released.