Dec
08
Expected New Zealand Rate Cut May Fuel Its Red-Hot Housing Market
By
Graeme Wheeler, governor of the Reserve Bank of New Zealand.
Photographer: Mark Coote/Bloomberg
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RBNZ expected to cut rates Thursday despite housing boom
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Inflation targeting “no longer fit for purpose,” says NZIER
Inflation targeting may have become a straitjacket for the central bank that pioneered it.
Under pressure to boost inflation to 2 percent, the Reserve Bank of New Zealand is forecast to cut interest rates Thursday, returning them to a record low. That’s in spite of its concern that lower borrowing costs could throw fuel on an already red-hot housing market…
Expected New Zealand Rate Cut May Fuel Its Red-Hot Housing Market
