New Zealand's monetary policy to remain restrictive: central bank

WELLINGTON, Nov. 29 (Xinhua) -- The Reserve Bank of New Zealand's Monetary Policy Committee agreed on Wednesday to maintain the official cash rate (OCR) at a restrictive level of 5.5 percent that it has been since May.

The Monetary Policy Committee agreed that interest rates will need to remain at a restrictive level for a sustained period of time so that consumer price inflation returns to target and supports m