Yet again the Reserve Bank is front and centre with a number of releases to chew over. In the last week they released their Monetary Policy Statement (MPS), which always includes an Official Cash Rate (OCR) review as well as the October lending breakdown and they officially commenced consultation on the potential introduction of debt-to-income (DTI) caps.
The OCR was increased by 0.25% - probably the cautious option, but as Kelvin discusses it's all about the forecasts and what happens next.
From a DTI perspective, the key is probably the Reserve Bank's relaxed nature around there being no rush to implement anything. Nonetheless Kelvin has pored over the document to give his take on other points of interest.
To close out the RBNZ section this week, a review of October lending data further solidifies the likelihood of a last hurrah for first home buyers, before high LVR limits were officially tightened on 1 November.
Other brief topics of interest are consumer confidence results (weakening) and upcoming CoreLogic house price index results, business confidence, filled jobs and building consents data (which Nick takes the opportunity from, to remind listeners that not all consents go through to completion).
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