Yet again, inflation was weaker than the Reserve Bank expected in the June quarter, forcing it to consider another rate cut that would pour more fuel on the housing market fire in the absence of further lending controls.
Hello all after the release of the March quarter labour force figures on jobs and wages, which everyone is scrutinising for signs on how the economy is travelling and what the Reserve Bank might do next.
For the convenience of email-avoiding subscribers and samplers, here's the email sent earlier on Wednesday.
For the convenience of email-avoiding subscribers and samplers, here's the email sent earlier on Tuesday.
The Reserve Bank's strong comments in its OCR decision about the potential for the "unsustainable and unjustified" New Zealand dollar to fall significantly is being interpreted by some economists as a warning of imminent intervention to sell the currency lower, possibly within days.
Reserve Bank lending figures for October show its high LVR policy has had little impact yet on overall lending going into the housing market as a surge of sub-80% lending more than offsets any reduction in mortgages with LVRs over 80%.