RBNZ Dep Gov Bascand says there is a greater risk of a house price correction
Reserve Bank of New Zealand Deputy Governor Bascand speaking following the release of the Bank's Financial Stability Report earlier on Wednesday.
- long-term drivers of house prices are softening
- labour market data is encouraging form a financial stability point of view
The NZD barely moved on the release of the FSR but is higher following the Q1 employment report.
Bascand is filling in today for RBNZ Governor Orr who is ill.
Bascand is a big hit at RBNZ karaoke nights despite consistently mangling the lyrics of Slice of Heaven: