20 Jan 2015
NZ economy continues to display Goldilocks characteristics - ANZ
FXStreet (Bali) - New Zealand's headline business confidence cam at 23 or 21 seasonally adjusted vs 20 sa in Q4, with Mark Smith, Senior Economist at ANZ, defining the report as 'a solid set of readings' for the New Zealand economy.
Key Quotes
"A solid set of readings, with growth set to remain in a 3% to 3½% annual range as the expansion broadens. Pricing metrics were softer, although firming capacity metrics point to pending lifts in core inflation."
"The overall impression is that the economy continues to display Goldilocks characteristics, consistent with the OCR remaining on hold for a considerable period. That said, the RBNZ will remain alert to rising capacity pressures, in addition to the resurgent Auckland housing market."
Key Quotes
"A solid set of readings, with growth set to remain in a 3% to 3½% annual range as the expansion broadens. Pricing metrics were softer, although firming capacity metrics point to pending lifts in core inflation."
"The overall impression is that the economy continues to display Goldilocks characteristics, consistent with the OCR remaining on hold for a considerable period. That said, the RBNZ will remain alert to rising capacity pressures, in addition to the resurgent Auckland housing market."