With the NZX about to open the news could not be much worse. Two new interest rate rises are being predicted for New Zealand by Westpac and now Citicorp has announced a record quarterly loss. To make matters worse there was a surprise fall in US retail sales in December. Maybe the banks have their inflation forecasts wrong and all will be OK. We will see tomorrow.....
Update: 9 minutes into trading the NZX 50 is down 0.79% 11 minutes into trading it was down 1.01% At 1130 it was down 1.84%.
