<i>Bernard Hickey: </i>Tightening without hiking the OCR
The Reserve Bank has slightly opened its forecast window for the first rate hike by a month or two in this morning's statement.
The Reserve Bank has slightly opened its forecast window for the first rate hike by a month or two in this morning's statement.
Official interest rates are staying at 2.5pc but Reserve Bank governor Alan Bollard hints increases are likely 'in coming months'.
The number of people who received mortgages in the first quarter of this year was 30 per cent down on 2009.
NZ banks granted 4438 home loans in the first quarter of this year, a 30 per cent drop on the same time last year.
The New Zealand dollar edged up against the greenback overnight, but remained largely within the US71c to US71.50c band where it has spent most of the time since Monday night.