![<i>Bernard Hickey: </i> Five ways to control the NZ$ and capital flows](/pf/resources/images/placeholders/placeholder_l.png?d=793)
<i>Bernard Hickey: </i> Five ways to control the NZ$ and capital flows
The version of the free market we had wasn't really free or perfect.
The version of the free market we had wasn't really free or perfect.
The New Zealand dollar fell from a 10-month high as a pick-up in American housing data polished the appeal of the beaten-down greenback.
Economists believe GDP stats due out this week will show the NZ economy has expanded less that the Reserve Bank forecasted, confirming that interest rates are on hold for now.
A weakening recovery and the Christchurch earthquake have prompted the Reserve Bank to leave official interest rates on hold this morning at 3 per cent.
If Alan Bollard's interest rate decision today had needed a theme song, it would have been the Rolling Stones' "Time is on my side."