To date, the Federal Reserve has increased the Federal funds rate by 175 basis points in this tightening
phase, and
recent evidence from the Federal Reserve's survey of senior loan officers suggests that lenders are also becoming somewhat more cautious about
extending credit to businesses.
«Contrary to some
recent analysis and commentary on the New Zealand dairy sector, Rabobank's view is the current price trough is part of an
extended negative
phase of the commodity cycle and not a structural, permanent change to supply and demand dynamics,» he said.