Here's my summary of the key news overnight in 90 seconds at 9 am, including news from around the world as we await the 9 am RBNZ OCR decision.
Firstly, China announced new steps aimed at bolstering slowing economic growth by cutting taxes, spending more on developing the Yangtze River region and expanding financing for exporters.
US stocks fell with European equities as the World Bank cut its global growth forecast.
British unemployment fell to the lowest level in more than five years as the strengthening economic recovery boosted payrolls by a record.
Emirates Airlines has canceled orders for 70 of Airbus’s newest aircraft, the A350, following a review of its fleet requirements. The NZ$25 bln order had represented around 9% of the orders for A350s. The chances are those orders will be placed now for Boeing's 777x.
In Australia, supermarket giant Coles is reported to be getting ready to launching banking services there based on its burgeoning financial services arm. They are targeting banking to better bind customers to its stores and boost grocery sales. No doubt their main rival Woolworths will react similarly. Woolworths own Countdown. Coming to NZ soon?
The IMF warned overnight that there the possibility of another housing crash is growing and that governments should act now to prevent it.
Today, UST 10yr benchmark bond yields are 2.63%, down marginally from yesterday. Oil is unchanged which is a bit surprising given the growing trouble in Iraq. Higher than expected US inventories might be the reason. Gold is also unchanged.
On the exchange rate the NZD has risen again overnight ahead of the RBNZ decision. It starts today at 85.6 USc, at 91.2 AUc and the TWI is at 79.8.
We will have full coverage of the Reserve Bank's monetary policy statement of course here at 9am.
If you want to catch up with all the changes from yesterday we have an update here.
The easiest place to stay up with today's event risk is by following our Economic Calendar here »
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.