The Reserve Bank of New Zealand kept their base Interest rate on hold this week but highlighted they remain accommodating in the policy stance on Interest Rates. Expectations are that longer term Milk prices will fall further and the RBNZ noted that the current price was below break even for many farms. This is worrying longer term and it does appear to me that this will only become more of a problem in the future. However at the moment the Kiwi has strengthened undoing all of the lovely gains of this week as the RBNZ keep rates on hold.
If you need to make any currency transfers buying NZD in the coming weeks then I would strongly suggest making some plans on this current spike as clearly the rates won’t just keep on climbing! For the very best rates and service we are in business to help you trade on any good spikes and make sure you don’t suffer if rates take an unexpected turn.
We are also here to help plan and manage your rate by offering options to fix in advance. For more information on how to achieve the most for your money please email me Jonathan on [email protected]