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RBNZ may leave rates on hold in 2011

Written by Andrew Isbister on February 25th, 2011.      0 comments

3:00 PM (NZT) 25 Feb: Given the economic shock of the Christchurch earthquake this week, market talk has been that the RBNZ may now leave interest rates on hold in 2011. Prior to the quake, the market had been looking for a 75 basis point rise in interest rates (+.75%) this year. A Reuters poll of analysts since the quake, predicts rates will remain on hold. The New Zealand dollar has already depreciated significantly since the quake. If the RBNZ does keep rates on hold, this will have a negative influence on the value of the New Zealand dollar.
 

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