What goes up must come down (eventually :rolleyes: ) and you've still got time on your side, Dawn.
Kiwi dollar just keeps on going up
5:00AM Thursday April 19, 2007
By Christopher Niesche
The kiwi dollar is likely to push to fresh highs after data yesterday showed the Reserve Bank still has not got inflation under control and may have to lift interest rates again next week.
After the release of the consumer price index yesterday, the kiwi jumped to its highest level since it was floated 22 years ago, rising to almost US75c. It hit a high of US74.93c, above a previous high of US74.65c in March 2005.
"We've seen every man and his dog buying the kiwi," said Bank of New Zealand currency strategist Danica Hampton, who predicted the currency would go higher still.
The rise of 0.5 per cent in the CPI in the March quarter "really reiterates the case that if [the Reserve Bank] wants to contain medium-term inflation they probably have further tightening to do and we expect them to hike next week".
A rise next Thursday would put the official cash rate at 7.75 per cent, among the highest in the developed world, and further increasing the attractiveness of Kiwi rates for foreign investors.
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