No surprises for guessing what the topic of interest is this week - the RBNZ's August Monetary Policy Statement (MPS). Yes, the Official Cash Rate (OCR) increased by another 0.5% to now be 3%, but of more interest to our data loving friends are the forecasts within and what's actually said in the statement.
Nick and Kelvin provide their review of the statement and expectations for the short-term future of the market. The latest CoreLogic Pain & Gain report for Q2 2022 and recent stories about negative equity also feed into this discussion.
Then there's the BRANZ/MBIE report on the long term outlook for construction, the July NZ Activity Index (NZAC) and a new report from the Housing Technical Working Group acknowledging the big influences of property prices over the long term history to sink your teeth into.
This week look out for a release on the potential ongoing impact of regular floods in NZ and the Q2 Housing Affordability Report.
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