RBNZ’s Wheeler: Says he is concerned about house-price inflation in Auckland

Author: Eamonn Sheridan | Category: Central Banks

RBNZ’s Wheeler:

  • Says he is concerned about house-price inflation in Auckland
  • No plans for further macroprudential instruments
  • Need for rate tightening has been pushed out
  • Productivity growth may be starting to improve
  • Message is clear that RBNZ is on hold for a long time
  • Lower oil price increases disposable income
  • 3.5% cash rate is low
  • Don’t see massive risks to growth
  • See no serious risk of collapse in terms of trade

more to come

No plans for further macroprudential instruments – this is significant …. ’cause after the use of macroprudential tools the next move is an interest rate hike

Earlier:

 

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