Latest / The Kākā by Bernard Hickey
A mini-hoon on the OCR cut & the housing market
Long story short, I spoke to Core Logic Head of Research Nick Goodall & Real Estate Institute of New Zealand (REINZ) CEO Jen Baird for a 15 minute mini-Hoon last night after the Reserve Bank of New Zealand announced it had cut the Official Cash Rate 50 bps to 3.75% and projected another 75 bps of cuts this year. We also spoke in the video and podcast above about the REINZ's January sales data showing another slight fall in house prices with a rise in sales volumes.
In essence, we agreed the as-expected rate cut and the RBNZ’s acceleration of three projected rate cuts in yesterday’s…
The skinny
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