Looking at our global markets.
The Reserve Bank of New Zealand flagged a temporary dip in price as it held its Interest Rate at 1.75% as expected. They still expect the economy to accelerate this year, eventually pulling inflation slowly up towards two percent.
On other side, our Fiji dollar strengthened against the US currency this morning by 28 basis points after the Federal Reserve Bank announced a rate hike to 1.75 percent, an increase on 25 basis points from 1.50 percent. They also stuck to their view of three rate increases for 2018 for a pickup in inflation.
Australian Bureau of Statistics showed 17,500 new jobs were added in February, just under forecast of 20,000. Annual job growth of 3.5 percent was more than twice the pace of US job creation of 1.6 percent.
With labour supply expanding to meet demand, there was less upward pressure on wages and inflation and thus no near-term trigger for a rise in interest rate from the Reserve Bank of Australia
And that’s all for now…..Thank you.