OK, first of all it is impossible for individual traders to manipulate the LIBOR. Here is why: The London Inter Banking Offered Rate is calculated daily as follows: 16 major banks call in every morning to Thomson Reuters Corporation to state the rates they will charge other banks who want to do interbanking borrowing for […]
We have waved goodbye to Bollard who did not see the 2008 crisis coming but do everything the same regardless and we will welcome a brand spanking new Governor (more on him in future posts), we will also see the birth of a brand spanking new Derivatives Clearing house (About which also more in future […]
It takes a lot to make a Kiwi angry. I know this because I woke up in 2006 and over the last six years with each fresh revelation of the truth the ratchet clicked a half degree more to anger.
A quarter of exporters have ambitions to move overseas to escape rising labour costs, a high exchange rate and increasing costs in New Zealand. The DHL Export Barometer survey found that nearly 90 exporters were anticipating shifting at least part of their business overseas in the next two years, with China and Australia being the […]