Finally the OCR (Official Cash Rate) in New Zealand has been dropped to 8.0%. As an exporter we have been doing it tough for years now and maybe this is the relief we need.
http://www.rbnz.govt.nz/news/2008/3376920.html
I used to joke, in a black humour kind of way, that what exporters needed was a “mad cow” to take the edge off the economy. Nothing else seemed like it would work … Then with some sadness I realized we already had one, but she was running the country, time would not be on her side forever …
Unfortunately our relief comes only because the economy overall seems to be screwed.
Forex data from : http://www.dukascopy.com/ via the Forex Charts Widget
