Westpac chief economist Kelly Eckhold acknowledges compelling reasons for meatier October and November rate cuts.
Plus, Stats NZ data shows building consents fell 25% last year, while unemployment expected to nudge higher.
Analysts reckon the RBNZ chief economist’s comments today indicate no OCR cuts in the ‘near term’.
Net debt at the end of November was $1.77b lower than expected.
OCR cuts pencilled in from August – while inflation back in key zone later this year.
Annual fall more than the RBNZ expected back in November, lowering the chances of another OCR hike.
Central bank considers adding another ‘iron’ to its tool kit, no monetary policy implications, says Westpac’s Kelly Eckhold.
The Westpac-McDermott Miller Employment Confidence Index rose 1.4 points to 99.7 in the December quarter.
Latest Stats NZ migration data provides something of a curveball and came with a health warning, economist says.
ANZ forecasts CPI inflation below 5% late last year, with the RBNZ expected to stay on the sidelines next month.