BNZ Weekly Overview - June 28 2007

Welcome to the June 28 edition of the BNZ Weekly Overview.

We have seen a great number of data releases over the past week most of which have been on the positive side. Consumer confidence has declined slightly but remains at a firm level while business sentiment has improved, credit card spending growth has accelerated, lending growth has accelerated, and dwelling consent numbers are rising while non-residential construction consents remain strong. Tomorrow morning the March quarter GDP numbers will come out and they will provide some extra insight into whether the Reserve Bank will need to raise the official cash rate another one or two times. The Kiwi dollar has recovered today after a fall overnight and has finished about where it was last week while wholesale interest rates have done extremely little.

Best regards

(See attached file: WOJune28.pdf)

© Scoop Media