New Zealand has begun an economic boom that could drive its currency past Australia's for the first time in four decades, HSBC Bank Australia says.
The bank rates the rebuilding of earthquake-damaged Christchurch - one of three things driving the economy - as an economic force as important to New Zealand as the resources boom of the last decade was to Australia's economy.
"New Zealand is set for a strong 2014, with the economy already firing on all cylinders," Adam Richardson and Paul Bloxham of HSBC Bank Australia say in a report.
http://www.businessspectator.com.au/news/2014/1/12/australian-dollar/nz-dollar-pass-aust-dollar-hsbc
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