Scoop has an Ethical Paywall
Welcome to the December 9 issue of the BNZ Weekly Overview
Welcome to the December 9 issue of the BNZ Weekly Overview
This morning the Reserve Bank left the official cash rate unchanged at 3.0% which was no surprise. But they have shifted their expectation for the next rate rise out a few months to June and so have we. Weak manufacturing and construction data received this week help make the shift easy to understand along with the results of our monthly survey which show overwhelmingly that respondents are optimistic about 2011 but are still experiencing very tight conditions at the moment.
Offshore the US labour market has turned out weaker than expected but some new fiscal loosening and a few other firm bits of data have supported the greenback and pushed bond yields up quite sharply. In Australia interest rates have also edged up as this afternoon?s employment report was yet again much stronger than expected. The Australian economy is rapidly running into capacity constraints and the implications for us are a lower NZD against the strong AUD and additional attractiveness for skilled Kiwis of hopping over there.
ENDS
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
Landcare Research: ANZAC Gall Fly Release Promises Natural Solution To Weed Threat
NZ Anti-Vivisection Society: Auckland Rat Lovers Unite!
University of Canterbury: $1.35 Million Grant To Study Lion-like Jumping Spiders
Federated Farmers: Government Ends War On Farming
