NZ FinMin English: Supports RBNZ using macro-prudential tools

FXStreet (Bali) - New Zealand FinMin English continues to make comments towards stricter housing lending rules, saying that he supports the idea of the RBNZ using range of macro prudential tools, a headline by Bloomberg notes.

English was quoted yesterday, saying: "No asset price can go up at over 10 per cent a year forever. Sometime it'll stop. They've got a bit of a dilemma here. Very low interest rates environment. There's no good reason to put interest rates up. They don't really have that tool to enable them to control the housing market."

Feb 11, 2015

Australia consumer confidence soars to 13-month high

Westpac's Australian consumer sentiment surged to its highest in 13 months in February, after a seasonally adjusted 8% increase to 100.7, with the lowering of interest rates by the RBA last month, a relentless rally in the Australian equity market and falling oil prices, helping to lift up optimism among family finances and the economy.

AUD/NZD poised to test fresh lows - RBS

Greg Gibbs, FX Strategist at RBS, argues that AUD/NZD is likely to test fresh lows based on relative commodity price trends, relative growth momentum including the reacceleration of the New Zealand housing market, and renewed rate cutting cycle in Australia.