The Reserve Bank is taking an unusual step on Thursday. It is going to issue a special economic update.
It will not be an interest rate announcement. That will happen on August 11th.
Nor will it be new housing policy.
The markets are expecting the Reserve Bank (RBNZ) is going to focus on the New Zealand dollar. It is higher than the RBNZ expected and it is making life tough for exporters.
The Kiwi is trading at 71.14 US cents and 93.8 Australian cents.
Normally a high dollar and weak inflation would mean an interest rate cut. But any cut to the OCR risks fueling the already hot property market.
