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Scoop Full Coverage: Reserve Bank Lifts Rates

Sludge Report: RBNZ Raises Interest Rates – But Will It Make A Difference?

- From today's Monetary Policy Statement it appears that our Reserve Bank Governor Dr Alan Bollard remains fixated on New Zealand house price inflation. Unfortunately on the face of things there doesn't seem to be much he can do about it. "A return to a moderating trend in housing and domestic demand " is what he today says he wants – if we are to avoid " medium term inflationary pressures ", by which he means further interest rate rises. However from this MPS it is also apparent that there is growing recognition inside the bank that there is not a lot it can do about its biggest bugbear. See... Sludge Report #174: RBNZ Remains Housing Fixated (includes full audio of Dr Bollard's Q&A)
MORE:

Scoop Report - Bollard Gives Committee Fiscal Warning

RBNZ Press Release - Reserve Bank raises OCR to 7.50 percent

RBNZ Full Text - Monetary Policy Statement – 885k PDF

NZ Govt - Bank highlights savings problem

National - Homeowners tighten belts while Labour lets loose

National - Cullen should come clean with homeowners

National - Cullen and Bollard at odds over Govt spending

Progressive Party - Rate rise will cause pain but is it worth it?

NZ First - Governor’s Blunt Instrument

Greens - Overseas investors main winners from OCR decision

CTU - Cash Rise Regrettable

Wellington Chamber - Chamber Concerned at Interest Rate Rise

Canterbury Manufacturers - Doing the same things expecting different results…

BERL - BERL calls on Reserve Bank Governor to hold nerve

Mike Pero - Reserve Bank of New Zealand MPS comment

Business Roundtable - Monetary Policy, Inflation and Capital Markets

Advance New Zealand - Inflation: History Repeats and Repeats and...

EPMU - Rate rise further justifies pay rises - EPMU

Wood Processors Association - Cullen Must Review Monetary Policy

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