
NZ market still dealing with US fallout
Ongoing fallout from the US plan to easemoney printing policy and uncertainty in Asian markets are being blamed for a fall on the New Zealand share market.
Ongoing fallout from the US plan to easemoney printing policy and uncertainty in Asian markets are being blamed for a fall on the New Zealand share market.
Mighty River Power shares slumped to a new low of $2.23 this morning as the local stock exchange followed world markets down, reaching its lowest point in a month.
Wall Street has declined after Fed chairman Ben Bernanke said the central bank may begin tapering its US$85 billion-a-month bond-buying program later this year.
The Greens back down on their print money policy is good - but co-leader Russel Norman shouldn't expect to be finance minister in a Labour-led government.
The Green Party has abandoned its policy of quantitative easing - otherwise known as printing money - after almost a year of punishing backlash from political opponents.
The Prime Minister John Key believes first-home buyers should be exempt from proposed restrictions to low-deposit home lending.
The Reserve Bank has kept its official cash rate unchanged at 2.5 per cent at today's monetary policy statement.
The recent drop in the value of the New Zealand dollar against the US currency could have a caught a number of companies off-guard.
An air of optimism about the US economy has put the skids under the New Zealand dollar and a drop below US78c could herald further falls, market strategists said.
The most difficult aspect of the Reserve Bank's dilemma is that the longer interest rates stay low.