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October 25th Edition Of The BNZ Weekly Overview.

October 25th Edition Of The BNZ Weekly Overview.

As expected the Reserve Bank left monetary policy unchanged this morning but released a relatively strong warning about the inflationary and interest rate implications of easing fiscal policy. Given that ahead of the election such an easing is guaranteed optimism by borrowers regarding New Zealand interest rates does not appear remotely justified. The Kiwi dollar has changed by little over the week though has fallen to a one-year low below 84.0 cents against the Aussie currency with interest rates across the ditch highly likely to be raised in two weeks time because of inflation concerns.

Click For BNZ Weekly Overview In PDF Format
http://img.scoop.co.nz/media/pdfs/0710/WOOct25.pdf

Tony Alexander
Chief Economist
Bank Of New Zealand

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