October 26 edition of the BNZ Weekly Overview
October 26 edition of the BNZ Weekly Overview.
There was good news for exporters this morning with the Reserve Bank leaving the cash rate unchanged at 7.25% and the exchange rate falling to about US 65.6 cents compared with US 66.3 cents a week ago. Against the Australian currency the Kiwi dollar has lost about two cents over the past 10 days. It has to be kept in mind however that New Zealand interest rates are going to be kept at high levels for a long time because even with our economy growing at rates between 1.5% and 2.5% over the next two or three years resource availability will remain relatively poor.
See Full BNZ Weekly Overview PDF
http://img.scoop.co.nz/media/pdfs/0610/WOOct26.pdf
ENDS
Bank of New Zealand
Be good with money
Bank of New Zealand (BNZ) has been a big part of New Zealand life for over 150 years since its foundation in 1861. The bank employs over 5,000 people and has more than 170 retail stores and 32 Partners business centres across the country.
Passionate about enabling a higher achieving New Zealand, BNZ works with personal, business, agri, and private wealth clients, helping them grow and make their goals a reality.
A subsidiary of the National Australia Bank Group of companies, BNZ is governed locally by a Board of Directors and strives to help New Zealanders be good with money.
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