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Weekly Overview June 12
Thursday June 12th 2014
These past two days I have been yet again at National Farm Fieldays, so start off this week’s Overview with a few observations on the sentiment and concerns of the many people I have been chatting with. This morning the RBNZ raised the cash rate 0.25% to 3.25% as near universally expected. But they disappointed some erroneous optimists hoping that they would signal a pause in July when they retained the same projected interest rate track as released three months ago. The factoring in of higher interest rate expectations has pushed the NZD up by one cent today to sit two cents higher against the greenback than a week ago.