New Zealand building consents for December

Down 7.2% month-on-month

  • The November figures has been revised to down 9.6% m/m, from -9.2%

Stats NZ is putting a brave face on the declines, citing strong bulidng approvals for 2016 as a whole:

  • The total number of homes consented in the year was up 10 percent from 2015, and the most for a calendar year since 2004.

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Its been all action from New Zealand the past few hours:

  • Analysts react to the RBNZ decision
  • Live stream of the RBNZ press conference
  • NZZDUSD initial move is lower after decision
  • Full text of the RBNZ statement
  • New Zealand dollar quickly lower on the OCR decision
  • RBNZ holds rates at 1.75%, as expected

& ... Wheeler's press conference, highlights here