Click here to see today's video. Bernard Hickey details the key news in 90 seconds at 9am in association with ASB, including news that Prime Minister John Key has commented on monetary policy on the fringes of an East Asian summit meeting over the weekend. Key said he didn't expect the RBNZ to hike interest rates until mid 2010 "at the earliest" while the New Zealand dollar remained strong. The RBNZ is due to make its rates decision later this week and is widely expected to drop its comment about holding the OCR until the latter part of 2010. What does he know that we don't? John Key's comments conflict with the idea of the Reserve Bank being independent. Meanwhile, large US commercial property lender Capmark has filed for bankruptcy and Citigroup has cancelled thousands of fuel credit cards. It has also increased interest rates for many to 29% from 19% while the US OCR is at 0.25%.
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