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April 13, 2021, 11:56 p.m. EDT

New Zealand central bank keeps rates unchanged

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By Stephen Wright

WELLINGTON, New Zealand--The Reserve Bank of New Zealand said economic recovery from the pandemic remains uncertain and left its two main tools for influencing the economy unchanged at stimulatory levels.

The central bank on Wednesday kept its cash rate at a record low 0.25% and maintained a ceiling of 100 billion New Zealand dollars ($70.5 billion) for its purchases of New Zealand government bonds.

It will take "considerable time and patience" for the central bank's goals of 2.0% inflation and maximum sustainable employment to be achieved, the RBNZ said in a statement.

Write to Stephen Wright at stephen.wright@wsj.com

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