New Series From The Survey Of Expectations

On 20 September, additional data will be published from the Survey of Expectations. Our release currently includes the mean of the responses given for the expected official cash rate (OCR) at the end of the current quarter and one year out. Since August 2020, we have asked respondents about their expectations of the OCR in 10 years’ time, and the average OCR over the next 10 years. The mean of the responses given for each these two series will be published in the data spreadsheet alongside the Survey of Expectations (M14) table. The data for these series will be available from 2020 Q3 up until the most recent data in 2022 Q3.

The series description on the website will also be updated to reflect the addition of these two series and provide more clarity around the methodology used to calculate these series.

There will be no changes to the data previously published or to the frequency of publishing. The December 2022 quarter release is due to be published on 8 November 2022.

New series from the Bank Balance Sheet Survey

On 30 September, we will publish two new web tables, providing additional detail of New Zealand’s banking sector financial position and business loans provided. The new tables are:

S36 Banks: Assets – Business loans by product

S37 Banks: Assets – Agriculture loans by product

These tables will provide a lower level view of how business and agriculture lending is split across different lending products (such as interest only, principal and interest, etc.). The S36 table will be broken down by total commercial property, and small & medium (SME) and large other business lending. The S37 table will be broken down by dairy, sheep & beef, horticulture and other agriculture.

The data for these tables is sourced from our Bank Balance sheet Survey and will be published monthly along our other bank balance sheet data (C5, C50-C52, S10, S30-S50).

Change to releases scheduled for 26 September

The New Zealand government announced September 26th as a one-off holiday to mark the passing of Queen Elizabeth II.
In light of this, we are adjusting our release calendar. The impacted releases are:

• Exchange rates and Trade Weighted Index (B1) and Wholesale interest rates (B2)
• Government bond turnover (D9)
• Loan-to-value ratio statistics (C30, C31 and C32 tables).

Releases will resume the next business day, 27 September, including all releases previously scheduled for 26 September.

Open market operations (D3) and Standing facilities (D12) are not affected and will be released as usual.

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