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.
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