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Business Weekly Economic Report
Play it again, Alan
Monday, 07 December 2009
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This week the RBNZ will release its Monetary Policy Statement. The Official Cash Rate will undoubtedly be left unchanged – the focus will be on the message the RBNZ delivers.
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From a strategic point of view, the RBNZ will want to continue dampening down expectations that a rate increase will be occurring earlier, in order to encourage households to move onto floating interest rates over the coming months.
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However, by April the RBNZ is likely to find itself in a position where it will need to slow the housing market via a higher OCR to prevent further aggravation of New Zealand’s imbalances and vulnerabilities (not to mention anticipation of inflation).
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Report Prepared by:
Jane Turner
ASB Economist
Phone: +64 9 374 8185
Fax: +64 9 302 0992
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