Reserve Bank of New Zealand retained the basic interest rate at 3,0%, as expected the consensus forecast. New Zealand dollar after the news was a serious blow. The reason for this decline has served a very pessimistic comments by the Governor of the Bank Alan Bollard. It states that the forecast for the economy weakened considerably compared with that expected in June. Past earthquake, likely will spur construction activity over the next two years, so that probably expect a fairly strong data from the data of the sector and for the most part ignore them, because they do not reflect the substantial increase in welfare. In addition, the RBNZ is likely to be more soft policy (not that sharp will increase your bid) to support the rebuilding of the country. It is already in the current report Bollard noted that consumer activity remains alarming with "soft" consumer spending and low demand for loans.In addition, the statement says that the earthquake caused by the acceleration of inflation will not affect the medium-term projections of prices. In other words, we have made it clear that, like the Bank of England, the RBNZ will be more lenient with respect to the burst of inflation in the coming quarters. Furthermore, compared with the June comment, noting that the pace of policy tightening will be slower.
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