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WELLINGTON， March 23 (Xinhua) -- New Zealand's central bank held its official cash rate (OCR) at the historic low of 1.75 percent on Thursday， citing major challenges in the global economy.


Macroeconomic indicators in advanced economies have been positive over the past two months， but major challenges remained with ongoing surplus capacity in the global economy and extensive geo-political uncertainty， said Reserve Bank of New Zealand governor Graeme Wheeler.


Global headline inflation had increased， partly due to a rise in commodity prices， and monetary policy was expected to remain stimulatory， but less so going forward， particularly in the United States， Wheeler said in a statement.


The trade-weighted exchange rate has fallen 4 percent since February， partly in response to weaker dairy prices and reduced interest rate differentials， but further depreciation was needed to achieve more balanced growth， he said.


Gross domestic product growth -- at 0.4 percent -- was weaker than expected in the December quarter， but the growth outlook remained positive， supported by accommodative monetary policy， strong population growth， and high levels of household spending and construction activity.


Prices in the country's pillar dairy sector had been volatile in recent auctions and uncertainty remained around future outcomes.


House price inflation had moderated， but it was uncertain whether the moderation would be sustained given the continued imbalance between supply and demand.


Headline inflation had returned to the target band of 1 percent to 3 percent as past declines in oil prices dropped out of the annual calculation.


"Longer-term inflation expectations remain well-anchored at around 2 percent，" said Wheeler.


Monetary policy would remain accommodative for a considerable period.


"Numerous uncertainties remain， particularly in respect of the international outlook， and policy may need to adjust accordingly，" he said.


The OCR has been at 1.75 percent since November last year.


The RBNZ's next OCR review will be announced on May 11.


BEIJING, July 10 (Xinhua) -- Every day Vernon Hargreaves III Buccaneers Jersey , Chen Yandong handles dozens of packages for the residents in Gaozhai Village in northwest China's Gansu Province.


From appliances such as refrigerators and air conditioners to daily necessities like razors and toothpaste, Chen is amazed by how residents of the remote village make the most of their Internet connections to add convenience to their lives.


"People are happy to get access to good prices and quality products from online vendors," Chen said.


E-commerce is helping revitalize China's rural villages Kendell Beckwith Buccaneers Jersey , home to half of the country's population. It has also emerged as a new growth driver for consumer spending in the world's second largest economy.


China has the world's largest e-commerce market. As the incomes of rural residents increase, growth in online retail purchases by rural shoppers has outpaced their urban counterparts.


China's rural residents spent 894.54 billion yuan (131.47 billion U.S. dollars) online in 2016, accounting for 17.4 percent of the nation's total Chris Godwin Buccaneers Jersey , according to the Ministry of Commerce.


E-commerce is also opening the doors to the huge rural market for companies and farmers.


Alibaba, which began a rural strategy on its e-commerce platform Taobao in 2014, has set up local service centers in about 30 Justin Evans Buccaneers Jersey ,000 villages across 700 counties to support its e-commerce business and provide delivery services in rural areas.


To meet rising demand, e-commerce giant JD is expanding its service center workforce to over 300,000 in rural areas.


Farmers have also raked in handsome profits from selling premium produce online.


Li Chunwang. from Wugong County in Shaanxi Province O. J. Howard Buccaneers Jersey , has set up a cooperative which purchases fruit from farmers and sells it online. Previously it made an annual income around 3 million yuan. In 2016, the number shot up to nearly 300 million yuan.


The city of Donggang in northeast China's Liaoning province is well-known for its strawberries. In 2016, more than 80 percent of the city's strawberries and strawberry-related p. Cheap Houston Texans Jerseys Cheap Baltimore Ravens Jerseys Wholesale Panthers Jerseys Wholesale Packers Jerseys Wholesale Lions Jerseys Wholesale Browns Jerseys Wholesale Jacksonville Jaguars Jerseys Wholesale Atlanta Falcons Jerseys Wholesale Dallas Cowboys Jerseys Wholesale Indianapolis Colts Jerseys

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