INDEPENDENT NEWS

BNZ Weekly Overview - December 6 2007

Published: Thu 6 Dec 2007 02:11 PM
(See... WODec6.pdf)
Welcome to the December 6 edition of the BNZ Weekly Overview.
This week we are running our last survey for the year. If time permits please click on the URL below and let us know whether you think the economy will get better or worse over the coming year. More importantly let us know how things are in your industry at the moment. Results will be released early next week. Many thanks to those who have contributed regularly during the year.
http://www.closer.co.nz/bnzeconomist.asp
This morning we saw the Reserve Bank leave the cash rate at 8.25% but warn of many inflationary pressures going forward. This implies continuing very strong support for the Kiwi dollar which has risen today, and very little scope for interest rates to decline in the coming year. In contrast overseas central banks are noting increased worries about the global economy and ructions in financial markets leading to rising expectations of cash rate cuts in the near future with a cut expected in the United States next week.
ENDS
Bank of New Zealand
Be good with money
Bank of New Zealand (BNZ) has been a big part of New Zealand life for over 150 years since its foundation in 1861. The bank employs over 5,000 people and has more than 170 retail stores and 32 Partners business centres across the country.
Passionate about enabling a higher achieving New Zealand, BNZ works with personal, business, agri, and private wealth clients, helping them grow and make their goals a reality.
A subsidiary of the National Australia Bank Group of companies, BNZ is governed locally by a Board of Directors and strives to help New Zealanders be good with money.
Contact BNZ Weekly
Website:
Phone:
0800 275 269
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