and that's actually one of the factors cited by the rbnz.'ve been able to cut much more aggressively 50 basis points again recently. whereas bank of england we're not sure where they're headed up ahead. >> so if you. >> actually do have. >> a commitment towards more fiscal consolidation, which the market will reward through lower borrowing costs and also interest rates can come down, i think that can help with the borrowing side a bit. but again, it is going to be a balancing act. >> and for andrew bailey, i mean the mandate from the bank of england is not about growth. so what can we really expect from the bank of england in terms of its role here in supporting the economy? >> i think he's going to be looking at the broader macro data. for example. >> i mentioned. >> in some of the surveys that hiring intention is certainly coming down. and we're seeing. >> that in. >> terms of vacancies. but at the same time, wages aren't really coming down. but i think what. >> he's been very firm in his. >> communication and saying, look, the direction.

raising rates to a five-year high, the rbnz raises rates to 3.5%. central bank says it's time now to pause and assess the impact of its recent tightening steps before taking any other action. it will -- its hands until disease before revealing rate rises. but it was the governor's comments about the kiwi/dollar. he said it was at an unjustified level. we were expecting him to leap on currently a little bit pep obviously surprised foreign exchange traders today. the cross down 1.5%. >>> now, back to australia and the major banks have cut mortgage rates as the central bank is likely to keep the benchmark rate at a record low of 275%. the lowest cost from the five had year fixed rate is just under 5%. nab quickly followed the move as you can see trading in that session higher by around 0.5% for the commonwealth bank, national bank higher by 0.2%. and you see westpac there higher by 0.12%, too. >>> china's latest restaurant probe has china investigates allegations of a supply ier yum brands has cut all ties with the supplier. it appears only one plant i

it's been beaten down significantly last week and even though the rbnz came out and said we'll be raisingrates. i think there are opportunities to pick up bargains. >> thank you very much. have a great day. >> thanks for having us. >>> coming up, finding the next big tech investment. ted leonsis is always on the prowl. he'll tell us what he's looking at right now. plus, some of his predictions for 2014. and if it wasn't a great first month on wall street, the nikkei is in correction territory now. the currency markets are all over the place. what the heck is the average investor supposed to do? we'll get a few suggestions in the 8:00 a.m. hour eastern time. then find "squawk box" online and mobile, too. follow us on twitter. @squawkbox. or visit us on quack.cnbc.com. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't t