Speculation is rife.
Will Alan Bollard, reserve bank governor, raise the OCR yet again because of high fuel prices, a big Fonterra payout and the gradually slowing housing market. Or will he leave it as is for the time being or, as some pundits are suggesting, even lower it in order to clip the wings of the New Zealand dollar?
Better still, will Micheal Cullen, minister of finance, step in with a little known section of the reserve bank act and reverse the change if Bollard raises it as he has threatened to do?
Place your bets.
All will be revealed on Thursday 26 July 2007.
That's right, we have another week of speculation to put up with yet.
One thing to note though is that the kiwi dollar is only doing sky rocket impersonations against the US dollar. Its rise against other currencies is much slower or almost unchanging.
What does that say about the US economy? and how long will it take for the average American to work that out?
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