The full impact of the downgrade of New Zealand's credit rating by … and Standard and Poor's is not known.
At the end of last week Standard and Poor's dropped its rating for New Zealand to AA from AA+.
The initial reaction was a slight rise in interest rates and the New Zealand dollar took a small battering.
This afternoon the dollar is trading at US$0.75.
2 comments
LIKE NIGHT FOLLOWS DAY
Posted on 04-10-2011 18:10 | By ROCKY
COST OF TCC BORROWING WILL GO UP ON $ 4000m DEBT AND SO WILL TCC RATES.
The good thing about bad times is...
Posted on 05-10-2011 10:00 | By SpeakUp
...that public awareness and reason changes VERY fast. Governing stooges will find themselves suddenly be held accountable for misdeeds of their tenure. But that will not enter their small but crafty minds until the public tribunal casts its verdict.
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