Interest rates drive prices down: Westpac New Zealandâ€™s housing market is firmly in slowdown mode, Westpacâ€™s chief economist says. Dominick Stephens said data from QV and REINZ confirmed the beginning of a trend. He said the fall in sales was most noticeable in the cheaper end of the market and had hit all regions except Queenstown.
20-02-2014 more >>
Hint of optimism in OCR announcement The decision this morning to leave the official cash rate (OCR) unchanged at 2.5% hasnâ€™t surprised anyone â€“ but the hint of optimism included with the Reserve Bank governorâ€™s statement has. 25-10-2012 more >>
RBNZ targets house prices The new Reserve Bank Governor must increase the OCR if house prices rise rapidly, even if inflation is on target. Finance Minister Bill English and RBNZ Governor-Designate Graeme Wheeler signed a new Policy Targets Agreement (PTA) yesterday. The Reserve Bank Act states that the Governor is accountable for maintaining price stability. 21-09-2012 more >>
Bollard spooks market Reserve Bank governor Alan Bollard spooked financial markets slightly into thinking he may raise interest rates sooner than they had anticipated although, as expected, he's left rates unchanged for now. 27-10-2011 more >>