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- New York 10:48
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Fundamental News Summary
2
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Asian Session News Summary
Thu, Nov 5 2009, 01:31 GMT
by ecPulse.com analysis team
Unemployment in New Zealand rose in 3Q
Unemployment rate in New Zealand rose to 6.5% in the third quarter of this year compared with a previous 6.0%, and it came higher than analyst's estimates of 6.4%. Employment change declined 0.8% in the quarter ended September from the previous quarter following a decline by 0.4% and it came worse than the forecasted 0.3%. Employment change fell 1.8% in 3Q from a year earlier coming after a decline by 0.9%, and it was expected to drop 1.3%.
RBNZ's Bollard statement
New Zealand Reserve Bank Governor Allan Bollard said today in a speech in Auckland that New Zealand economy is facing a slowing recovery from world recession and that recovery in New Zealand will be slower Australia's. On the other hand Bollard ensured that Australia will be a strong market for New Zealand exports.
Allan Bollard added that financial markets do not appreciate the weak recovery in New Zealand. Bollard expressed his concerns about the rising currency value against its American counterpart as he said it is threatening an export led recovery, worth mentioning that New Zealand economy expanded 0.1% in the second quarter of this year ending a series of contractions began in the first quarter of 2008.
BOJ minutes
The BOJ released the minutes of the October 13 and 14 meeting when the bank decided to keep interest rates at its low record of 0.10%. The bank said that the economy started to pick up and public investment is increasing along with improving exports and production.
The bank said that the decline in business fixed investment that came along with weak corporate profits is moderating, while private consumption remains generally weak. The BOJ board members said that ending the emergency program doesn’t means that the BOJ will raise interest rates from its low record.
Published on Thu, Nov 5 2009, 01:33 GMT
Archive
- Asian Session News Summary
Published On Tue, Nov 24 2009, 05:57 GMT - European Session News Summary
Published On Mon, Nov 23 2009, 15:55 GMT - US Session News Summary
Published On Fri, Nov 20 2009, 21:12 GMT - US Session News Summary
Published On Thu, Nov 19 2009, 21:10 GMT - Asian Session News Summary
Published On Thu, Nov 19 2009, 05:48 GMT
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