11.12.2014 - RBNZ expects the fall of the New Zealand dollar

The Reserve Bank of New Zealand issued its statement according to which is expected a gradual rise in interest rates, GDP growth is projected at 3.0% at the end of 2016. In anticipation of the RBNZ reported decrease in quotations of the national currency. The main negative factors are low prices for dairy products, which is the main export commodity of the country and weakening growth in China. Given the weak data on the trade balance and the fact that the recovery in prices for dairy products is expected only in 2015, we maintain a medium-term negative outlook and expect a decline in the near future with a target near 0.7500.

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