Reserve Bank leaves OCR on hold

The Reserve Bank said it expected the introduction of LVR restrictions to help to slow house price inflation. The Herald's Economics Editor Brian Fallow asks Governor about the success and planning about the LVR curves in place. In the big picture, Governor Graeme Wheeler said the global economic outlook remained mixed. Economic growth in Australia and China had slowed and some emerging market currencies had come under downward pressure. At the same time, the major developed economies continued to recover and New Zealand's export commodity prices remained very high, he said.