BNZ Weekly Overview 30 November 2006
Welcome to the November 30 edition of the BNZ Weekly Overview.
This week we have seen the New Zealand dollar rise by one cent against the greenback mainly in response to weakness in the US currency on the back of increasing expectations of easing monetary policy in the United States over 2007. But the New Zealand dollar is also receiving support from investors losing their worries about our economy in the face of recent strong economic data.
Wholesale interest rates have increased marginally over the week assisted by strong economic data including firm business confidence, strong construction, and continued strong growth in private sector credit.