Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: ild who wrote (8603)	7/2/2004 1:21:44 AM
From: mishedlo	Read Replies (1) of 116555

NZ Weekly Economic Report www1.asbbank.co.nz ======================================================= This is interesting 90 day yield just passed up 5 yr govt bond yield. They are calling for 3 more hikes in NZ this year. WOW I doubt it. here is the forecast: ========================= NZ forecasts The recent data suggest that the NZ growth rate is in the process of slowing. But possibly not as quickly as built into RBNZ inflation projections (recall forecasts are high for all of 2005). This mix of rising inflation pressures and only a gradual growth deceleration suggests the RBNZ will probably tighten another 3 times this year. Including +0.25% to 6.00% 29-July. These tightenings plus rising rates abroad should see fixed rates rise further yet [Home Loan Rate report]. This tightening should keep the NZ dollar firm against the Australian dollar and probably still above 60c US by year-end [ASB Bank Quarterly Forecasts].

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