New Zealand Rates
The New Zealand dollar was little changed at 85.84 U.S. cents, holding a 1.2 percent drop last week, the biggest since the five days to Jan. 31.
All 15 economists in a Bloomberg survey expect the Reserve Bank of New Zealand to raise its official cash rate by 25 basis points to 3 percent at the April 24 meeting. The central bank increased borrowing costs by a quarter percentage point last month.
“The issue with New Zealand is that this forthcoming interest-rate tightening cycle is fully priced in,” Annette Beacher, the Singapore-based head of Asia-Pacific research at TD Securities Inc., said in a Bloomberg Television interview. “The Reserve Bank in March was extremely clear that 125 basis points of tightening is coming this year.” - Bloomberg http://www.bloomberg.com/news/2014-0...iwi-rises.html
The New Zealand dollar was little changed at 85.84 U.S. cents, holding a 1.2 percent drop last week, the biggest since the five days to Jan. 31.
All 15 economists in a Bloomberg survey expect the Reserve Bank of New Zealand to raise its official cash rate by 25 basis points to 3 percent at the April 24 meeting. The central bank increased borrowing costs by a quarter percentage point last month.
“The issue with New Zealand is that this forthcoming interest-rate tightening cycle is fully priced in,” Annette Beacher, the Singapore-based head of Asia-Pacific research at TD Securities Inc., said in a Bloomberg Television interview. “The Reserve Bank in March was extremely clear that 125 basis points of tightening is coming this year.” - Bloomberg http://www.bloomberg.com/news/2014-0...iwi-rises.html