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September 21 edition of the BNZ Weekly Overview
Welcome to the September 21 edition of the BNZ Weekly Overview.
The Kiwi dollar has remained strong this week in spite of worse than expected current account deficit numbers released this morning with investors around the world hungry for our high interest rates at a time when the next move in interest rates in the United States is expected to be downward over 2007. Eventually we expect the Kiwi dollar will decline but as we have been warning since the start of the year the downward leg in the Kiwi dollar's cycle this time around will be lessened by high interest rates as the Reserve Bank continues to fight a structural rise in New Zealand's inflation rate.
See... BNZ Weekly Overview 21 September 2006
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