current account defecit tagged posts
Credit Rating agency, Fitch Ratings has lowered the New Zealand credit rating from “stable” to “negative”.
The New Zealand Dollar (Kiwi) fell against all of its major trading partners upon the release of the news that the New Zealand credit rating has fallen. On announcement day, the Kiwi fell from 64.61 US Cents, to 63.89 US Cents. Against the Australian Dollar, the Kiwi fell .55 cents, and .53 against the Yen.
The rating change by Fitch is not necessarily conceded between all ratings agencies. Goldman & Sach’s raised its outlook on New Zealand at its last revision...Read More