HOT TOPICS:   Election 2014  |  Dairy prices   | Housing affordability                                 RESOURCES:    Economic calendar   |  Median multiples

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What happened Thursday

A review of things you need to know before you go home on Thursday; best growth since 2007, US Fed impacts NZ, low crude, high petrol, swap rates zoom higher

USD volatile while Fed data absorbed

Weaker Q2 NZ-GDP data expected to weigh on the NZD which is drifting lower after the US Fed announcements

Fed forecasts show rate rises planned

Higher Fed Funds assumptions above market expectations, targeting 3.75% by end of 2017; new DMO bond auction today

What happened Wednesday

A review of things you need to know before you go home on Wednesday; dairy payout in focus, BOP deficit improves, farm sales weak, swap rates fall

'As good as it gets'

GDT auction relief and NZD benefits, also from a declining USD ahead of US Fed announcements and expected strong BOP data

NZ swaps and bonds down 2-5bps

RBA increasingly concerned about Aussie house price spike; observers not expecting changed Fed wording

What happened Tuesday

A review of things you need to know before you go home on Tuesday; Super Fund's high returns, new NZIER boss, red meat prices rising, more council deficits, swap rates fall

NZD gains against the GBP

OECD calls on the ECB to do more to stimulate the beleaguered region, including large-scale bond purchases

'Markets ahead of itself'

US data sends confusing signals, now prefering to await the US Fed decision

RBNZ statement more dovish than the expected bland

Roger J Kerr sees "one hell of a turnaround" by the RBNZ in the way they look at their 90-day interest rate projections