Adam and Greg had the Reserve Bank of New Zealand and Governor Wheeler news earlier:
- RBNZ's Wheeler: Declines to comment on NZD value and why that might matter
- RBNZ financial stability report: Financial risks have risen
Couple of recaps from Reuters and Bloomberg are around also if you missed Wheeler earlier:
- Auckland's soaring housing market and low milk prices pose increased risks to New Zealand's financial system, the country's central bank said.
"The increasingly stretched Auckland market is at risk of a damaging correction, especially if economic conditions deteriorate" ... which would be exacerbated if low dairy prices are sustained or dairy farm prices fall significantly"
RBNZ outlook from ASB:
"The strength of housing will be one factor the RBNZ bears in mind when making near-term OCR decisions," said Nick Tuffley, chief economist at ASB Bank in Auckland. "But with the inflation outlook extremely benign in our view, and house sales falling sharply over October, we still expect a 25 basis point OCR cut in December."
