the labour force participation rate dipped to 71.9%
This guy has the right idea ..from interest.co.nz Henry Russell, an economist at ANZ, warned this could prompt the Reserve Bank of New Zealand (RBNZ) to lift the OCR from 5.50% to 5.75% at its next review on February 28. A 25 basis points hike later this month has become a very real possibility, and RBNZ Governor Orrs speech on 16 February could raise the market-perceived probability of a hike further, Russell said.
NZD back to 59c Winner.
Henry old boy must be regretting sticking his head above the parapet.
Members agreed that persistence in non-tradable inflation remains a significant upside risk .. the Committee discussed the possibility of increasing the OCR .. interest rates may have to remain at a restrictive level for longer than anticipated in the February Monetary Policy Statement"
At the top of every bubble, everyone is convinced it's not yet a bubble.
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