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Kiwi Dollar, exchnage rate, house price forecast etc.

Kiwi Dollar, exchnage rate, house price forecast etc.

Old Sep 10th 2009, 2:09 am
  #1  
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Default Kiwi Dollar, exchnage rate, house price forecast etc.

Reserve Bank Governor Alan Bollard today left the official cash rate (OCR) unchanged at a record low 2.5 percent, saying there was more evidence that a "patchy" recovery was under way.

He repeated his advice that the Reserve Bank expected to "keep the OCR at or below the current level through until the latter part of 2010".

"The extent of recent New Zealand dollar strength appears to be a symptom of an almost indiscriminate rush back into risk-taking that has accompanied the recovery in global equity markets," the MPS said.

The Reserve Bank expected the tight supply in the housing market to persist in the short term, supporting an increase in house prices for the rest of 2009.

Overall, it expected house prices to hold up around current levels for the rest of its forecast period, to early 2012.


Conclusions (imho);

They don't know why the dollar is so strong ...and wish it wasn't
They hope the exchange rate returns to 'normal' but don't count on it.
They hope that house prices won't rise but don't count on it

http://nz.biz.yahoo.com/090909/3/ei60.html
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Old Sep 10th 2009, 3:01 am
  #2  
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Default Re: Kiwi Dollar, exchnage rate, house price forecast etc.

Well, if the Governor of the reserve bank doesn't understand what the hell is going on, then what hope have the rest of us got.

All I know is that the exchange rate is killing me at the moment.
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Old Sep 10th 2009, 9:50 am
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Default Re: Kiwi Dollar, exchnage rate, house price forecast etc.

Well I'm still holding out for the exchange rate to go up as I still have half my savings in the UK. With the move to Christchurch coming up then we may be needing them sooner rather than later now Going to need somewhere to live...
Wish I'd changed them all in March when I got 2.85 - had some in a term deposit and should have just forfeited the interest and changed it all back then - isn't hindsight wonderful?
Can hang on for 6m or so and longer if we can't find anywhere to live quickly
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Old Sep 11th 2009, 8:14 am
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Default Re: Kiwi Dollar, exchnage rate, house price forecast etc.

Plenty of people seem to think that a double dip recession is likely.....

With more and more jobs going and businesses closing I wouldn't bet against it.

I read so many reports, normally generated by those with a vested interest that housing is recovering, maybe someone will believe it soon.
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