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.
- Reserve Bank of New Zealand FSR - financial system is sound, vulnerabilities remain
- NZ jobs report for Q1: Unemployment rate 4.7% (vs. 4.9% expected)
- NZD marked up following the strong jobs 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:
