New rules on Auckland home lending
New, Auckland-only rules for property lending may be unveiled as early as tomorrow morning.
New, Auckland-only rules for property lending may be unveiled as early as tomorrow morning.
The NZ dollar touched 92.82 Australian cents, its lowest level since late January, as traders price in rate cuts.
The dollar may decline this week as economists bet the Reserve Bank will start cutting interest rates as early as next month.
The kiwi touched 74.23 US cents, and was trading at 74.43 cents at 8am in Wellington, from 74.99 cents at 5pm yesterday.
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The kiwi dropped yesterday after data showed annual wage inflation in the private sector slowed to a 0.3 per cent pace in the three months ended March 31.
The New Zealand dollar has dropped by US1c after labour data out this morning showed wage growth was less than expected.
Finance Minister Bill English has confirmed that this month’s Budget will see the surplus forecast a year ago turn into a deficit slightly higher than forecasted in December.
QV's latest figures show the average property value for the Auckland region has now broken into the $800,000s, fuelled by Auckland City-South.
A speech by the Reserve Bank's assistant governor and chief economist John McDermott gives support to market expectations that the next move in interest rates is likely to be down.
The New Zealand dollar is trading close to parity with the Australian dollar and may push through the historic milestone today.
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Labour leader Andrew Little says the Reserve Bank should target property speculators to ease the pressures on the Auckland housing market.
The New Zealand dollar has slipped to 98.84 Australian cents from 99.03 cents yesterday ahead of Australian employment data today.
Andrew Little says a speech from the Reserve Bank deputy governor was effectively saying there was a housing crisis – something John Key had refused to accept.