BNZ Weekly Overview 31 August

Friday, 1 September 2006, 9:39 am
Press Release: BNZ Weekly

Welcome to the August 31 edition of the BNZ Weekly Overview.

The main development over the past week has been a strong rise in the New Zealand dollar to just over 65 US cents. This has come on the back of overseas investors chasing the good yields available in New Zealand amidst growing expectations that US interest rates will be slowly edging lower over the next couple of years. The rising New Zealand dollar plus recent fall in petrol prices should easily prevent the Reserve Bank from raising its official cash rate again this cycle with the next review due on September 14.

ENDS

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