HSBC – NZD may hit parity against the AUD by the end of the year

• Paul Bloxham, HSBC economist, says the NZD may hit parity against the AUD by the end of 2014

• cites New Zealand’s above-average economic performance and growth prospects
• “We expect New Zealand to continue to outperform Australia. We still think that New Zealand is the rockstar economy of 2015. It is still the fastest growing economy in the OECD this year – Australia isn’t”
• HSBC also estimates that both currencies are “overvalued” – the Australian unit is 10 per cent more “overvalued” than the Kiwi

Report in local financial press, the Australian Financial Review: Get ready for trans-Tasman parity party

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Bloxham has made no secret of his call for the NZ economy – this from February this year: the New Zealand economy is “more likely to be a rockstar with staying power than a one hit wonder”