Reserve Bank of New Zealand Governor Wheeler speaking to a parliamentary committee
- Too soon to say if Auckland house price inflation easing
- No further macro-prudential measures in mind right now
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Concerns over house price inflation in Auckland are a factor in RBNZ setting of NZ interest rates; with no further macro-prudential measures 'in mind right now' it may very fall to interest rates to do a slowing job. At the margin such comments will be read as NZ positive. I wouldn't think they'll have a huge impact on market perception of the rate path though.
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- Wouldn't put too much weight on one month housing data
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Bloomberg with the headlines
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- No prospect of rate increases in near-term
- Medium-term prospects for dairy look fine
- We follow the dairy auctions closely
