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Economy to Escape Unscathed This Time Around
Thursday August 8th 2013
The Events surrounding Fonterra caused some brief weakness in the NZD which has not persisted against the greenback or Aussie dollar but has left our currency down for the week against other currencies. The interest rate impact was minimal and it looks like this time around there will be no measurable hit to the economy as such.
Prospects for NZ growth keep improving and as forecasts get revised up so too will expectations for monetary policy tightening be brought forward in time and extra upward pressure accrue for the NZ dollar.