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Reserve Bank of New Zealand MPS comment
Wednesday, 7 March 2007
Reserve Bank of New Zealand MPS comment
Reserve Bank Governor Alan Bollard is due to
announce on Thursday (8 March) the Reserve Bank’s latest
Monetary Policy Statement (MPS) as well as its regular
review of the Official Cash Rate (OCR).
Mike Pero
Mortgages Chief Executive Jeff Staniland will be available
on Thursday for comment, if required, on how the MPS, OCR or
comments made by Alan Bollard may influence the outlook for
the housing market.
The OCR is currently set at
7.25 percent and was last changed in December
2005.
Some commentators have suggested the OCR
could be raised on Thursday by as much as 0.5% to 7.75%,
which would make it he biggest hike since May 2000, and the
highest the rate has ever been since its introduction in
March 1999.
The previous RBNZ OCR statement (25
January 2007) noted the bank’s earlier prediction, that
housing market demand would resume a slowing trend through
2007 and 2008, was looking more uncertain.
Mike
Pero Mortgages Chief Executive Jeff Staniland says that
home-lending inquiries at Mike Pero Mortgages have remained
strong during 2007.
The next OCR review will be on
26 April
2007.
Ends
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