Expectations of tighter monetary policy in the U.S., Japan and Europe have been in stark contrast to expectations that the Reserve Bank will begin to ease. |
Some analysts are trying to dismiss the retail sales as an aberration but the market will have a reality check this week on the New Zealand rate outlook with the consumer prices index. |
The New Zealand dollar continues to find friends. The less negative tone of the most recent economic data and a growing realization the Reserve Bank will probably not be easing in the near term have lent support. |