New Zealand: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 151

Publication date: May 2007

ISBN: 9781451830354

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Money and Monetary Policy , ISCR , CR , interest rate , carry trade , bank , New Zealand dollar , exchange rate , house price inflation , asset quality , housing investor , Kiwi dollar , New Zealand dollar assets , NZD turnover , mortgage interest levy , rental yield , commodity currency , Housing prices , Housing , Exchange rates , Mortgages , Global , Australia and New Zealand

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Summary

This Selected Issues paper analyzes the underlying factors that explain the behavior of the Kiwi dollar. The findings suggest that the factors influencing the New Zealand dollar have been changing. The paper discusses that as New Zealand has become more integrated in global capital markets over time, the Kiwi dollar has become less of a commodity currency and more of a global currency that is influenced by interest rate spreads and global risk factors. The paper also looks at the strong preference for housing over financial assets exhibited by New Zealand households.