If it wasn't for Bernie Madoff, Stephen Versalko could still be stealing millions.

The scale of the fraud makes Stephen Versalko's case the largest single employment theft in New Zealand history.

It does not inspire confidence to have wild swings in the central bank's view of the economic outlook and what it is likely to do.

The Reserve Bank has left the Official Cash Rate unchanged at 2.5pc, and again said it may be the middle of this year before they rise.