Last week Reserve bank governor Allan Bollard left the Reserve bank rate unchanged at 2.5%, unchanged now for the 7th time in a row.

The NZD dollar dipped slightly on this news although it was widely expected that this would be the outcome.

The pound to the New Zealand dollar traded last week at an average of 2.14844 reaching a high of: 2.17490 and a low of: 2.11840

It has been indicated that interest rates may increase by the middle of 2010. The GDP for New Zealand is expected to grow 3, 2% in 2010 and a possible 4, 2% next year.

A Key indicator to watch for Sterling this week will be the BOE minutes which will be published on the 17th.

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Tags: New Zealand, news