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August 27 2009 issue of the BNZ Weekly Overview
Welcome to the August 27 2009 issue of the BNZ Weekly
Overview.
The week has been almost totally bereft of data releases in New Zealand so there is little to write about in the Weekly Overview. Wholesale interest rates are where they were last week while the NZD is slightly higher on the back of firmer investor risk acceptance offshore in response to a string of positive housing numbers out of the United States.
We did however learn early in the week that the net migration gain for NZ continues to chug toward a level strongly supportive of the housing market. The gain in the past year is now 14,500 from 3,500 in November. A total near 25,000 seems likely a few months from now.
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