This week the RBNZ's Monetary Policy Statement and OCR call are in the spotlight. Though most of the market expected the OCR to stay flat, ANZ's surprising recent forecast of two more increases caused a bit of doubt among commentators, and in the end the RBNZ probably softened their stance more than most expected. No one is getting carried away though, with the OCR to remain suitably contractionary for a while yet.
Meanwhile our HPI for Feb was released, with growth continuing to moderate and inconsistency across the country continuing to feature.
The release did however lead to some headline grabbing stuff from Newshub, after Kelvin politely disagreed with ex-PM John Key's assertion that house prices will double in the next 10-years. Needless to say Nick took the opportunity to stir the pot a bit!
Elsewhere Minister Bishop's plans to flood the market with developable land seem laudable but a bit optimistic - certainly conversation starting especially when combined with hopes to drag the house price to income ratio back towards 4.
Plenty to dig into for the start of the week - and there'll be more to come later in the week with International Women's Day on the horizon.
Sign up for news and insights or contact on LinkedIn, Twitter @NickGoodall_CL or @KDavidson_CL and email nick.goodall@corelogic.co.nz or kelvin.davidson@corelogic.co.nz
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