NZ interest rates to be driven by rewind of US stimulus
Long-term interest rates in New Zealand will be driven by how the United States exits from its "quantitative easing" regime.
For fixed interest investors, the Eurozone turmoil dominated returns last year.
But this year will be dominated by how fast the United States unwinds the "quantitative easing" stimulus policies of the past few years.
There have been two rounds of quantitative easing – or printing money – and the financial markets have been poised for a further round.