Natural disasters dominate market attention

Key highlights RBNZ cuts OCR by 50 basis points in response to Christchurch earthquake. Improvement in market sentiment underpins rebound in interest rates offshore over the latter part of March. Antipodean currencies also appreciate on improvement in market sentiment.     Report prepared by: Christina Leung ASB Economist Phone: +64 9 369 4421 Fax: +64 9 302 0992