Thursday, Jun 07, 2007
NZ base rate rises to 8% !!!
Bloomberg: New Zealand Raises Key Interest Rate to Record 8%
New Zealand's central bank unexpectedly raised its benchmark interest rate a quarter point to a record 8 percent, saying housing demand and consumer spending are fanning inflation. The currency rose to a 22-year high.
Posted by Webmaster @ 07:01 AM (162 views) Add Comment
2 Comments
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1. Pinetree said...
House prices in NZ dropped 38% over 6 years in the 1970's......but it's different this time.
currency traders all over the world will falling over each other this morning to invest in the NZD, yet the current account deficit is larger as a % of GDP than the US.
2. Jbob said...
Whoa ! Glad my money's out of property and into the Auckland Savings Bank !