Disliked{quote} it is a plane for training purpose if you want to become a fighter pilot {image}Ignored
- #7,662
- Sep 11, 2013 5:04pm Sep 11, 2013 5:04pm
- | Membership Revoked | Joined Jul 2013 | 4,068 Posts
{quote} it is a plane for training purpose if you want to become a fighter pilot {image}
Wherever you go, there you are.
- #7,663
- Sep 11, 2013 5:13pm Sep 11, 2013 5:13pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
So, just in case I am missing something or perhaps I have lost my ability to judge what is hawkish and what is dovish, can somebody please explain to me what there is in this monetary policy statement that was hawkish enough to push the NZD/USD up to 8132... and now probably to 8200 by tomorrow?
I have highlighted the hawkish sentences in green and the dovish ones in red. To me it looks balanced... neither hawkish nor dovish... or if you wish, mixed; both hawkish and dovish
Monetary Policy Statement, March 2013 - policy assessment
The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5 percent.
The downside risks around global growth have receded in recent months, and financial market sentiment has improved.
Domestically, the economic recovery is uneven. While demand and output are expanding, the labour market remains weak. Economic growth and inflation are being shaped by a range of forces. The Canterbury rebuild is gaining momentum and residential investment and business and consumer confidence are increasing. House price inflation is increasing and the Bank does not want to see financial stability or inflation risks accentuated by housing demand getting too far ahead of supply.
The overvalued New Zealand dollar is undermining profitability in export and import competing industries, and worsening drought conditions are creating difficulty in much of the country. Ongoing fiscal consolidation will also act to slow overall demand.
We project the economy to grow at an annual rate of between 2 and 3 percent over the forecast period. Inflation is expected to rise gradually towards the 2 percent midpoint of the target range.
There are both upside and downside risks to this outlook. At this point we expect to keep the OCR unchanged through the end of the year.
Graeme Wheeler
Governor
I have highlighted the hawkish sentences in green and the dovish ones in red. To me it looks balanced... neither hawkish nor dovish... or if you wish, mixed; both hawkish and dovish
Monetary Policy Statement, March 2013 - policy assessment
The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5 percent.
The downside risks around global growth have receded in recent months, and financial market sentiment has improved.
Domestically, the economic recovery is uneven. While demand and output are expanding, the labour market remains weak. Economic growth and inflation are being shaped by a range of forces. The Canterbury rebuild is gaining momentum and residential investment and business and consumer confidence are increasing. House price inflation is increasing and the Bank does not want to see financial stability or inflation risks accentuated by housing demand getting too far ahead of supply.
The overvalued New Zealand dollar is undermining profitability in export and import competing industries, and worsening drought conditions are creating difficulty in much of the country. Ongoing fiscal consolidation will also act to slow overall demand.
We project the economy to grow at an annual rate of between 2 and 3 percent over the forecast period. Inflation is expected to rise gradually towards the 2 percent midpoint of the target range.
There are both upside and downside risks to this outlook. At this point we expect to keep the OCR unchanged through the end of the year.
Graeme Wheeler
Governor
Those who say it cannot be done should not interrupt those who are doing it
- #7,664
- Sep 11, 2013 5:17pm Sep 11, 2013 5:17pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote}
Those who say it cannot be done should not interrupt those who are doing it
- #7,669
- Sep 11, 2013 5:29pm Sep 11, 2013 5:29pm
- | Membership Revoked | Joined Jul 2013 | 4,068 Posts
{quote} Good morning Milam
Wherever you go, there you are.
- #7,673
- Sep 11, 2013 5:38pm Sep 11, 2013 5:38pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
{quote} Look this one has 2 tails lol {image}
- #7,675
- Sep 11, 2013 5:40pm Sep 11, 2013 5:40pm
- | Membership Revoked | Joined Jul 2013 | 4,068 Posts
Wherever you go, there you are.
- #7,678
- Sep 11, 2013 5:52pm Sep 11, 2013 5:52pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} Look this one has 2 tails lol {image}
Those who say it cannot be done should not interrupt those who are doing it
- #7,679
- Sep 11, 2013 5:54pm Sep 11, 2013 5:54pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it