This via the New Zealand Institute of Economic Research (NZIER) 'Shadow Board'

The Board do an assessment of how they think the RBNZ should proceed, placing probabilities on outcomes.

In brief, for Wednesday's meeting:

  • The focus on the housing market has become more intense in recent months, and the recent announcements of policy measures to address house price sustainability has reduced the appetite for tighter monetary policy over the coming year.
  • Shadow Board members are in favour of leaving the monetary policy stance unchanged. Given the recent announcement of measures such as extending the bright-line test to 10 years and the removal of interest deductibility for investment properties, Shadow Board members felt a wait and see approach was appropriate to assess the effects on the New Zealand economy.

(more here if you wish)

Posted earlier:

This via the New Zealand Institute of Economic Research (NZIER) 'Shadow Board'

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The Reserve Bank of New Zealand announcement is due at 0200 GMT on April 14

  • there will be no update to forecasts
  • there will be no press conference

No change to the cash rate is expected (currently at 0.25%).

  • Similarly, on other policy settings, no change is expected: FLP and LSAP programmes are most likely to remain largely untouched