GBPNZD rates have moved up recently and now sit at the highest level we have seen for the last 30 days. These gains have been seen as a result of Sterling strength generally being seen this week. Unemployment data has showed yet another fall and indeed Inflation in the UK has not fallen at the same level many had expected following the result of the referendum. In-fact the IMF have got into a sticky situation following their latest forecasts on the UK. They yesterday came out and revised the growth forecast for the UK and actually pushed this up, very different from the doom they suggested on the basis of a a LEAVE result. IT would appear that even though the UK is leaving the EU in the years ahead it is not having the initial impact on the economy many had warned. In fact their forecasts for the UK puts they at the second fastest growing economies after the US.
As a result rates have climbed and again the opportunity is here for the taking if you are buying funds for a property purchase or indeed emigrating to New Zealand.
Longer term there are still concerns and potentially opportunities. Data for the UK in August are for July, the first full month following the referendum. Many expect this to be poor so expect the Pound to again be under pressure over the next 30 days, plus with the Bank of England still expected to cut rates centrally it seems there is a strong argument to suggest levels may be towards the highest we will see for a while.
The counter argument is that the New Zealand economy is under its own pressures and indeed there is talk of their central bank also changing central policy. This would weaken the New Zealand and make it cheaper to buy.
If you would like help and assistance guiding you through this difficult time please feel to get in contact and ask. Email myself STEVE EAKINS at [email protected] for a personal response to your situation.