Analyst: The best choice for the Reserve Bank of New Zealand is to stay put.

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Golden Finance reported that on June 29, Kiwibank Chief Economist Jarrod Kerr stated that despite the outbreak of a new round of conflict in the Middle East over the weekend, the New Zealand market widely believes that the possibility of a peace agreement is extremely high. Against the backdrop of oil prices falling to pre-war levels, demand appears likely to recover. He added that in this context, the New Zealand economy, although hit, has not completely collapsed. This oil crisis has slowed the pace of economic recovery enough to disrupt demand, but has not completely derailed economic activity. Kerr pointed out that the Reserve Bank of New Zealand has very strong reasons to keep interest rates unchanged at its policy meeting in July.
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