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    RBNZ: Complicating job once again - ANZ

    Research Team at ANZ, suggests that familiar tensions between housing and NZD strength are complicating the RBNZ’s job once again.Key Quotes“The outlook for the OCR is delicately poised as a result. It is not the most optimal policy outcome, but escalating pressures mean additional macroprudential measures look set to be a partial circuit breaker to this tension. In fact, we would not be surprised to get some sort of firmer signal in the coming months.Q1 GDP data this week should be a little softer than growth recorded over the second half of 2015, although timelier signals on Q2 activity are generally hinting that any Q1 softness is likely to be temporary. A further modest lift in GDT dairy prices is also expected this week.”

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