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WELLINGTON, Sept. 28 (Xinhua) -- New Zealand Reserve Bank on Thursday left the Official Cash Rate (OCR) unchanged at 1.75 percent.


Reserve Bank Acting Governor Grant Spencer said in a statement that global economic growth has continued to improve in recent quarters, but inflation and wage outcomes remain subdued across the advanced economies and challenges remain with on-going surplus capacity.


Bond yields are low, credit spreads have narrowed and equity prices are near record levels puma the fur slide uk , Spencer said, adding that monetary policy is expected to remain stimulatory in the advanced economies, but less so going forward.


The trade-weighted exchange rate has eased slightly since the August statement, and a lower New Zealand dollar would help to increase tradables inflation and deliver more balanced growth, Spencer said.


GDP in the June quarter grew in line with expectations, following relative weakness in the previous two quarters puma fur slides uk , he said, adding that while exports recovered, construction was weaker than expected.


Growth is projected to maintain its current pace going forward, supported by accommodative monetary policy, population growth, elevated terms of trade Puma Velvet Creepers Burgundy Online , and fiscal stimulus, he said.


House price inflation continues to moderate due to loan-to-value ratio restrictions, affordability constraints, and a tightening in credit conditions, Spencer said, adding that this moderation is expected to continue Cheap Women's Fenty Puma Rihanna Bow Sneakers Pink , although there remains a risk of resurgence in prices given population growth and resource constraints in the construction sector.


Annual CPI inflation eased in the June quarter, but remains within the target range, he said, adding that monetary policy will remain accommodative for a considerable period, and numerous uncertainties remain and policy may need to adjust accordingly.


Railway linking Shangqiu, Hefei Women's Fenty Puma Rihanna Bow Sneakers Olive Branch Sale , Hangzhou under construction


Ceremonies held around China to celebrate birthday of Confucius


Ivanka Trump, Jared Kushner attend Chinese National Day reception in Washington D.C.


Tourists enjoy scene beside Tarim River in China's Xinjiang


Four pandas from SW China make debut in NE China's Shenyang


Modern manufacturing, transport help six Chinese provinces develop fast


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CHINA’S Anbang Insurance Group Co has raised its offer for Starwood Hotels & Resorts Worldwide Inc to almost US$14 billion in its latest challenge to the US hotel operator’s merger with Marriott International Inc .


The bidding war for Starwood has pitted Marriott’s ambitions to create the world’s largest lodging company with about 5,700 hotels against Anbang’s drive to create a vast investment portfolio of high-yielding US real estate assets.


The acquisition of Starwood, owner of the Sheraton and Westin brands Puma Fenty Slides Fur Red Cheap , by Anbang would be the largest ever by a Chinese company in the United States.


Anbang’s consortium, which includes private equity firms JC Flowers & Co and Primavera Capital Ltd, has offered US$82.75 per share in cash, in what is reasonably likely to lead to a proposal that is superior to the deal with Marriott, Starwood said yesterday.


Marriott’s latest cash-and-stock offer, which was announced on March 21 Puma Fenty Slides Fur Wine Online , is currently worth around US$78 per share. Starwood’s board has not yet changed its recommendation to its shareholders in support of the company’s merger with Marriott, Starwood said. A vote for Starwood shareholders to approve the Marriott deal is scheduled for April 8.