Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us

Grab your $30 from XM

by ForexNewsNow Team on December 8th, 2010

NZ reserve bank expected to keep interest rates unchanged

NEW YORK (Forex News Now) – The Reserve Bank of New Zealand is set to convene overnight to determine interest rates, in an event that could affect currency market trading.

Bank Governor Alan Bollard is expected to make no change to the rate of interest, which is currently at 3 percent.

The announcement will be made in the capital Wellington at 10:00 P.M., GMT on Wednesday; as such it is expected to affect Thursday trading.

Economists expect the next rate rise to come no earlier than March 2011, with many believing it will come in the second quarter of the year, according to reports from realtime forex news sites.

The Kiwi suffered heavy losses against the greenback on Wednesday on prospects that a US tax cut extension will spur an economic recovery there: NZD/USD traded at 0.7512 as of around 8:50 A.M., GMT, down 0.76% on the day.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))