WARNING NZ$ under attack!!!!!!!!!
Jun 21st 2007, 2:09 pm
#31
Memetchi
Joined: Oct 2005
Posts: 201
Re: WARNING NZ$ under attack!!!!!!!!!
There is not much chance of interest rates dropping until at least the end of 2008 as far as I can see. We should see more rises soon (although with Bollard acting crazy who knows any more?). Our only hope is that the rest of the world raises rates, especially the Japanese.
Jun 21st 2007, 2:44 pm
#32
BE Forum Addict
Joined: Nov 2006
Location: Whitby Wellington
Posts: 2,440
Re: WARNING NZ$ under attack!!!!!!!!!
It is a little stronger against the USD due to the USD's decline against the rest of the world, but it's also strong against other currencies because our interest rates are so high. It has been stronger against the GBP though e.g. it was about $2.42 to the pound back in December 2005.
There is not much chance of interest rates dropping until at least the end of 2008 as far as I can see. We should see more rises soon (although with Bollard acting crazy who knows any more?). Our only hope is that the rest of the world raises rates, especially the Japanese.
There is not much chance of interest rates dropping until at least the end of 2008 as far as I can see. We should see more rises soon (although with Bollard acting crazy who knows any more?). Our only hope is that the rest of the world raises rates, especially the Japanese.
Jun 21st 2007, 10:29 pm
#33
Memetchi
Joined: Oct 2005
Posts: 201
Re: WARNING NZ$ under attack!!!!!!!!!
Hey, we get credited with bringing down the entire world financial system here: 
http://www.bloomberg.com/apps/news?p...d=aNdzlfjZPuxM
Granddad looked up from his GoogleSoft iSpreadsheet, where a flashing red ``health care'' box was blocking 2027's planned expenditure from matching the income cell. ``Yes, Joel. For about a decade we all believed central banks could ensure people had jobs, and could afford food and housing and such. That all changed after the Gigantic Global Bubble Burst of 2008.''
Joel put down his Mandarin dictionary. ``That's what my socio-economics teacher says we'll learn about next week. She called it the Giglobubu. What happened in 2008, Granddad?''
``We're still not sure, Joel,'' Granddad said. ``At the time, some accused the New Zealand central bank, some said it was the bond market, while others blamed the aftershocks of a slump in the U.S. housing market. If she's smart, your teacher will probably spend a lot of time talking about China.'' ...
Joel whispered ``2008 Giglobubu Causes'' into his Apple iWatch, and watched as the holographic multimedia display scrolled into life six inches above his wrist. ``Granddad, it says here that the New Zealand central bank made things worse?''
Granddad rubbed his beard as Joel's watch beamed graphs and charts into the air. ``Well, that's a bit unfair. They were quick to spot that prices were rising, and tried to curb inflation by driving up borrowing costs. Their mistake was trying to stop their currency, the New Zealand dollar, from rising. After the first two attempts failed, they should have given up. When the third attempt went wrong, people panicked because they started to realize how impotent the financial authorities were.''
http://www.bloomberg.com/apps/news?p...d=aNdzlfjZPuxM
Granddad looked up from his GoogleSoft iSpreadsheet, where a flashing red ``health care'' box was blocking 2027's planned expenditure from matching the income cell. ``Yes, Joel. For about a decade we all believed central banks could ensure people had jobs, and could afford food and housing and such. That all changed after the Gigantic Global Bubble Burst of 2008.''
Joel put down his Mandarin dictionary. ``That's what my socio-economics teacher says we'll learn about next week. She called it the Giglobubu. What happened in 2008, Granddad?''
``We're still not sure, Joel,'' Granddad said. ``At the time, some accused the New Zealand central bank, some said it was the bond market, while others blamed the aftershocks of a slump in the U.S. housing market. If she's smart, your teacher will probably spend a lot of time talking about China.'' ...
Joel whispered ``2008 Giglobubu Causes'' into his Apple iWatch, and watched as the holographic multimedia display scrolled into life six inches above his wrist. ``Granddad, it says here that the New Zealand central bank made things worse?''
Granddad rubbed his beard as Joel's watch beamed graphs and charts into the air. ``Well, that's a bit unfair. They were quick to spot that prices were rising, and tried to curb inflation by driving up borrowing costs. Their mistake was trying to stop their currency, the New Zealand dollar, from rising. After the first two attempts failed, they should have given up. When the third attempt went wrong, people panicked because they started to realize how impotent the financial authorities were.''
