Watch on our video page here. Watch on YouTube here. Bernard Hickey details the key news over the weekend in 90 seconds at 9am in association with BNZ, including news Strategic Finance announced a big loss and defaulted on its first payment under its moratorium plan. It may now be put into receivership by its Trustee. Meanwhile, US retail sales for December fell 0.3%, which was much worse than expectations for a 0.5% rise. That drove the stock market and market interest rates lower as investors fear a double dip recession and deflation. In New Zealand, we are expecting suggestions for tax reform from the Tax Working Group. Also we will see inflation figures on Wednesday. Next Thursday (January 28) the Reserve Bank will make its first monetary policy decision for the year and is expected to leave rates on hold, but the market is picking a March rise. The RBNZ may change its own outlook for 'no hike until mid 2010.'
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