The Reserve Bank has left the Official Cash Rate (OCR) unchanged at 2.5 percent but indicated it may cut again.

In my opinion I think this is the wrong move but then again I’m just a humble financial planner and we are not regarded highly here in NZ

The economy has shown sign’s of stabilising was the reason, well I think you have to look a little further than the sharemarkets and a few good results overseas.

Try and borrow money fo your business right now or even to get your first home. You will find it extremely difficult.

Not dropping the OCR sends a signal to people that things must be just about ok now, we are through the tough times and there is light at the end of the tunnel. Yeah Right.

Yes we will come out of this mess however tough times are still ahead of many and another drop would have suggested to the market that we still need to pull our socks up and get on with being productive.

Anyway that’s my bleat, I actually predicted that the OCR would not be cut so fixed a few loans just yesterday.

In the mean time the New Zealand dollar slipped against the US dollar overnight following a broad rise by the greenback spurred by a US$19 billion Treasury note sell-off. Part of the decision not to cut rates would have been the strength of our dollar against the greenback and here we have an example of just how easy it is for the dollar to slip away again.

Anyway I don’t have any particular shares that tickle my fancy today, my picks from earlier in the week are on the move so I am happy with that.

Remember Stock Trader is not about trading stocks on a dilay basis, I look to add great companies to my portfolio so that the stock trader portfolio will provide great returns over the long term.