Maintains payout at $4.60/KGMS
That's good news for the kiwi. The RBNZ is in 30 minutes.
Fonterra also announced it will provide $390 million in loans to farmers. It will be paid out at 50-cents per KGMS and interested free until June 2017 with interest payments only triggered when prices rise above $6.
In commodity after commodity there are so many people and companies praying for expecting a rebound in prices. There is a fundamental weakness in human nature that longs for things to be similar to how they were and makes us collectively deny the present.
Central bankers have been in denial about the new normal for 6 years.
I mean, what did you think would happen when you sold all those cows to Chinese breeders and farms?
