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Thread: Interest rates on the up

  1. #1
    MotherBear's Avatar
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    Thumbs down Interest rates on the up

    Not one, but two rate rises ahead, warns economist
    12:00PM Tuesday April 17, 2007

    Economist Gareth Morgan believes the Reserve Bank will move on interest rates twice within the next quarter.

    The kiwi dollar is trading at around the US74c, breaking records set over two years ago. Morgan said the Reserve Bank has no choice but to raise rates, as the economy has run too hot for too long, and the central bank now has to make up for lost time.

    He said if the government really wanted to quieten the economy down, the last thing it should be doing now is pouring money into roads, health services, and infrastructure - generating full employment and excess demand.

    He is convinced the probability of a housing market crash is rising by the month, and said a government dereliction of duty in policy setting is firmly to blame.

    As the currency scales new highs, the volume of concern from the export sector grows.

    More here .
    Mother Bear

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    Dawn's Avatar
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    Quote Originally Posted by MotherBear View Post
    He is convinced the probability of a housing market crash is rising by the month

    Good! House prices need to crash on the 10th July and stay down for about three months then they're free to rise again when we're good and settled.

    Don't mean to be mean to all you guys already over there but it would just be for alittle while:rolleyes:
    Passionate about the unfathomableness opportunities of kiwi-a-gogo-land

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    Default Sorry, but it could be a little good news for me ... god knows I need it!

    Flight from U.S. dollar gathers strength

    The assault against the U.S. dollar intensifed yesterday as the greenback slumped to historic lows against currencies as diverse as the U.K. pound and the Polish zloty amid growing conviction among investors higher returns lie beyond U.S. borders.

    While many analysts say the greenback will continue to fall against many currencies, a question mark remains over what it will do against the Canadian dollar. The loonie joined in the greenback assault yesterday, rising US0.19? to a five-month high of US88.66?.

    "An IMF forecast that was released last week showed for the first time in 37 years you will get 5% global growth and the U.S. accounting for less than 10% of that growth -- half its normal share of global GDP," said Stefane Marion, assistant chief economist at National Bank in Montreal. "You've never seen the global economy growing at 5% with the U.S. growing ... only 2.2%."
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    High dollar - better buying
    5:00AM Sunday April 22, 2007
    By Michelle Coursey



    With the New Zealand dollar at its strongest in 22 years, consumers are in for some bargains on imported products.

    The dollar hit a high last Thursday of almost US75cents, the highest it has been since it was floated in March 1985.

    While some economists are predicting that the Reserve Bank may lift interest rates again, consumers can probably expect further reductions on items like televisions, computers, telecommunications equipment, and travel costs.

    Importers Institute chief executive Daniel Silva said the strength of the dollar meant importers would pay less for goods, which meant a subsequent drop in prices for shoppers. Silva said the rise of the Kiwi dollar had already brought prices down on many imported goods.

    "Electronics - flat-screen TVs for example - are a fraction of the price they used to be a year ago."

    More here .
    Mother Bear

    Try to bloom wherever you are planted.

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