We're in a dairy 'super downcycle' says bank
Dairy prices should start improving 'in the medium term'.
Dairy prices should start improving 'in the medium term'.
Reserve Bank debt-to-income caps would be disastrous for house buyers and the residential and building sector, says a real estate chief.
Shiny new $20, $50 and $100 banknotes are in circulation from today - but you might not see one for a while.
The Government should tilt the market in favour of those still waiting for the Kiwi dream.
COMMENT: The Reserve Bank was radiating signals this week that its next intervention in the housing market may well target debt-to-income ratios.
A typical household would be blocked from getting a mortgage of more than $405,000 under debt-to-income restrictions being considered by the Reserve Bank.
Housing debt got all the attention yesterday, but dairy debt remains near the top list of Reserve Bank of the threats to the economy.
The Reserve Bank halted its briefings for media and analysts after a breach of the embargo by a MediaWorks reporter.
The door remains open to further official cash rate cuts after the Reserve Bank held the OCR steady while predicting inflation will pick up.
The bank and the Government need new solutions to the economic damage being done by this raging house market.
WATCH: Has the Reserve Bank made a "poor call" keeping the OCR at 2.25 per cent?
So interest rates stay at a record low - does this mean mortgage rates are going to fall?
The Reserve Bank has left the OCR unchanged.
Our newly introduced five dollar note has won a world currency contest.
What is the lesser of two evils - the housing bubble or low inflation? It's a tough choice when you consider the limited ability of monetary policy to definitively solve either problem.
COMMENT: The Reserve Bank is back in a familiar place - between those two rocks of very low CPI inflation and very high house price inflation.
Bill English scotched speculation that a letter released today showed he is concerned about the Bank's performance.
Inflation for the first quarter of the year was bang on Reserve Bank expectations and won't add weight for another rate cut next week, say economists.
Latest CPI stats show that plunging petrol prices have been cancelled out by rising tobacco prices, pushing inflation to 0.2pc.
Westpac economist says a resurgent property market means new lending restrictions are likely.
COMMENT: Migrants are pouring into NZ by the thousand, but these days the new arrivals aren't boosting prices the way they once did.
The Reserve Bank of Australia has unveiled the design of the country's new $5 banknote, and the reaction has been mixed.
New $20, $50 and $100 banknotes use Te Reo Maori.
Blogger Michael Reddell says he makes no claims as to authenticity of the information he received but wanted to ensure the Reserve Bank's process was robust.
Banks rarely pass on full official cash rate cuts to mortgage holders, Reserve Bank data shows.
The knife has been taken to saver's interest rates, but banks have been reluctant to drop mortgage rates.
The BNZ has now followed other major banks and is now passing part of last week's official cash rate cut to its mortgage-holders.
COMMENT: It's Friday morning, the day after the Reserve Bank Governor's bombshell rate cut and I've muddled my diary.
COMMENT: While the focus is on government debt and farm debt, interest rate cut adds to a much bigger problem.