Fall in interest rates 'unlikely'

Economists are expecting consumer confidence to hold up fairly well as several spending indicators are released this week.

Figures on household credit, merchandise trade and building consents are due over the next few days.

BNZ chief economist Tony Alexander says the recent rise in petrol prices and warnings from the Reserve Bank may see a slight reduction in the consumer confidence measure, but believes it will not be particularly significant, given there is reasonable job security.

Mr Alexander believes there will be no scope for the Reserve Bank to take its foot off interest rates in the immediate future.

- NEWSTALK ZB