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A tale of several cities (in NZ)

Written by ANZ BlueNotes on August 31st, 2016.      0 comments

However, the RBNZ was hoping the $NZD didn't follow the $AUD example and lift following the cut.

One point where the two Australasian central banks were likely to diverge was in their comments on the housing market. Outgoing RBA Governor Glenn Stevens believes the likelihood of lower interest rates exacerbating risks in the housing market has “diminished”.

In NZ, with Hamilton house prices are up nearly 30 per cent year on year, a similar call on this side of the Tasman would certainly be a big one, indicating a lot of faith in the latest round of LVR restrictions.

nzhpzollner chart

Sharon Zollner is an Associate Director & Senior Economist at ANZ.

 

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