INDEPENDENT NEWS

Welcome to the December 9 issue of the BNZ Weekly Overview

Published: Fri 10 Dec 2010 10:30 AM
Welcome to the December 9 issue of the BNZ Weekly Overview
Click Here to Read the Report
This morning the Reserve Bank left the official cash rate unchanged at 3.0% which was no surprise. But they have shifted their expectation for the next rate rise out a few months to June and so have we. Weak manufacturing and construction data received this week help make the shift easy to understand along with the results of our monthly survey which show overwhelmingly that respondents are optimistic about 2011 but are still experiencing very tight conditions at the moment.
Offshore the US labour market has turned out weaker than expected but some new fiscal loosening and a few other firm bits of data have supported the greenback and pushed bond yields up quite sharply. In Australia interest rates have also edged up as this afternoon?s employment report was yet again much stronger than expected. The Australian economy is rapidly running into capacity constraints and the implications for us are a lower NZD against the strong AUD and additional attractiveness for skilled Kiwis of hopping over there.
ENDS
BNZ Weekly
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 Bank of New Zealand
Website:
Phone:
0800 275 269
Twitter:

Next in Business, Science, and Tech

Grey Power Is Disappointed To Learn Of More Bank Closures
By: Grey Power New Zealand
Supply Chain On Brink Of Overload Says National Road Carriers
By: National Road Carriers
Supermarkets Announced As Government’s Second Market Study
By: New Zealand Government
Retail Sales Recover In The September 2020 Quarter
By: Statistics New Zealand
New Zealand Flies Into The Stratosphere
By: Kea Aerospace
Births And Deaths: Year Ended September 2020
By: Statistics New Zealand
Okay Boomer: Kākāpō Wins Bird Of The Year 2020
By: Forest And Bird
BNZ Optimistic About Year Ahead
By: BNZ
Market Study Of Supermarkets ‘positive’ For Shoppers, Manufacturers
By: NZ Food and Grocery Council
Consumer NZ Welcomes Supermarket Investigation
By: Consumer NZ
Supermarket Inquiry Should Look At Govt’s Role
By: New Zealand National Party
Māori Population Estimates: At 30 June 2020
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media