!['No justification' for OCR rise - EMA](/pf/resources/images/placeholders/placeholder_l.png?d=793)
'No justification' for OCR rise - EMA
The economic recovery will stall if banks have their way and interest rates are lifted in January, the EMA says.
The economic recovery will stall if banks have their way and interest rates are lifted in January, the EMA says.
Accelerating inflation isn't expected to sway the Reserve Bank from a March rate hike, as rising consumer prices firm up the outlook of a strengthening economy.
The NZ dollar was little changed ahead of local inflation data which is expected to inform the Reserve Bank's decision when it reviews monetary policy next week.
The latest deal from a New Zealand bank to lure in new customers with "free" money and zero fees comes with a warning tag from financial experts.
The NZ dollar gained after weaker than expected US employment figures on Friday sapped optimism over the pace of the Fed's plans to scale back its asset purchase programme.
Banks are showing more interest in making low-deposit home loans after cutting back hard before Christmas, but it is mainly investors who are taking advantage.
Auckland's average house price rose to a record in December as property values benefited from a lack of supply heading into summer.
Federal Reserve chairman Ben Bernanke has predicted a stronger year for the US economy in 2014.
Three banks facing potential legal action from the competition watchdog over their sale of interest rate swap contracts to farmers say they will continue to co-operate with the commission.
The rampant house price inflation which has pushed the dream of home ownership out of reach for thousands of New Zealanders is probably over, says English.
An 8.6 per cent stake in giant listed landlord and Sylvia Park owner Kiwi Income Property Trust is now in play.