Main points of the RBNZ statements as per tradethenews.com story:
All sounds hawkish which translatest to NZD getting stronger...
QuoteDisliked- Expects economy will grow by 2.4% in 2008 and 1.8% in 2007
- Not confident rate won't need to rise
- Bollard sees more inflation pressure
- Expects inflation to be 3.9% in year to March 07
- Bollard says no rate cut for considerate time
- Keeps 2007 inflation forecast unchanged
- Bollard says spending slowdown has been moderate
- Bollard says employment growth is surprising]
- Commodity prices have supported the NZ dollar
- Bollard says economy is heading for soft landing
All sounds hawkish which translatest to NZD getting stronger...