• Last week markets looked to the Fed to step up its easing of monetary policy, and the Fed delivered adding an astounding array of planned asset purchases to its credit easing scheme. This week will bring a number of key NZ releases. 
• On Thursday the Q4 current account is likely to register a widening to 9% of GDP for the annual total, up from 8.6%.  The deficit will be under the microscope from rating agencies.
• On Friday is Q4 Gross Domestic Product (GDP), we are expecting a contraction of 1.1% – the fastest pace of decline since 1991.

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