16 August 2000

QES revision consistent with today's OCR announcement

The Reserve Bank today confirmed that it had been advised yesterday of the Quarterly Employment Survey numbers released this morning.

Reserve Bank Assistant Governor David Archer said: "In view of the large corrections to the previously released March quarter employment numbers, the Acting Government Statistician advised the Reserve Bank yesterday of both the corrected March quarter numbers and the June quarter results.

"At the margin, these additional data reinforced the earlier decision to leave the Official Cash Rate unchanged in the Monetary Policy Statement released this morning", Mr Archer said.

For further information contact
Paul Jackman
Corporate Affairs Manager
Ph 04 471 3671, 021 497 418, home 04 938 8177, Jackmanp@rbnz.govt.nz