S2.E31 - OCR hike on the horizon

Send us a question/idea/opinion direct via text message!

In a big week for economic data the chances of a lift in the official cash rate (OCR) have increased dramatically. 

Nick and Kelvin firstly cover off the Monetary Policy Review from the RBNZ, where they left the OCR on hold, but announced an almost immediate end to Government bond buying - a clear sign of reduced support for a surprisingly well performing economy.

Then, combined with the CPI data for Q2 reporting 3.3% inflation over the prior year, it seems more likely than not that the OCR will be on the move up next month.

There was also rental price data for June, firming up the view that the increased cost burden of the interest deductibility changes may well be passing through to tenants.

And a quick look over the REINZ HPI data provided further evidence of a slowdown in market growth, with variability around the country perhaps a sign of things to come.

Monthly video available on youtube.

Check out all our regular CoreLogic research insights at https://www.corelogic.co.nz/research-news and get in touch on LinkedIn, twitter @NickGoodall_CL or @KDavidson_CL or send us an email on nick.goodall@corelogic.co.nz or kelvin.davidson@corelogic.co.nz

Sign up for news and insights or contact on LinkedIn, X @NickGoodall_CL or @KDavidson_CL and email nick.goodall@cotality.com or kelvin.davidson@cotality.com