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BNZ Weekly Overview 23 August 2007
Welcome to the August 23 edition of the BNZ Weekly Overview.
It has been an eventful week with the Kiwi dollar gaining two cents against the greenback in response to things settling down slightly overseas. In addition today we saw the Reserve Bank alleviate some liquidity problems in the New Zealand market which had pushed 90-day bank bill yields to 9.2% compared with 8.8% last week and 8.5% a month ago. They have changed their discount policy - a technical alteration - which has caused bill yields to fall back towards 8.8%. Things internationally are still very volatile and continued large movements in the Kiwi dollar remained highly probable over the next few weeks.
ENDS
See... BNZ Weekly Overview 23 August 2007 (PDF)
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