Did the RBNZ get it wrong?
The Reserve Bank's recent OCR rate cut caught the market by surprise, raising the question: "Did the bank get it wrong?"
Tuesday, May 13th 2003, 10:35PM
by The Landlord
The sales figures come out the day before the Reserve Bank reviewed its Official Cash Rate (OCR) and were seen by some economists as putting paid to any chance of an OCR cut. But then the central bank took them by surprise and cut it by 25 basis points to 5.5%.
Through the mid-1990s, some thought former Reserve Bank governor Don Brash paid too much attention to the housing market. So is current governor Alan Bollard paying the housing market too little attention?
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| « Rates to head in opposite directions | Lianne Dalziel: Address to Master Builders » |
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