Bernard Hickey

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Articles by Bernard Hickey

23 Aug 16, 9:20am
Governor defends flexible inflation targeting regime; sticks with MPS view of another 35 bps of OCR cuts; says holding OCR would push up NZ$; but says more aggressive cuts would not lower NZ$ much and would worsen housing imbalances
22 Aug 16, 3:46pm
UMR poll finds 60% of Aucklanders over 18 would prefer house prices fell a bit or dramatically; 63% of NZers want lower house prices; 55% of home owners would like lower prices; 85% of Aucklanders see housing crisis
21 Aug 16, 5:02am
Bernard Hickey says a surge of low-skilled migration is frustrating the natural forces of supply and demand that would generate the wage inflation that both the Reserve Bank and the Government need in the long run
17 Aug 16, 11:16am
Statistics NZ reports unemployment fell to 5.1% in June quarter from revised 5.2% in March quarter; Under-utilisation rate, which includes unemployed and those who want more work, at 12.7%; 342,000 out of work or want more work
16 Aug 16, 2:37pm
Woodhouse says no evidence yet that high temporary migration is suppressing wages at the low end; English says watching skill levels and wages closely; Pressure growing on Govt as ANZ, RBNZ, Auckland Chamber of Commerce call for migration review
16 Aug 16, 1:07pm
English says unfair to say Wheeler has failed to meet his performance target on keeping inflation around 2% when global inflation is very low and NZ economy is growing faster than 3%; says 2nd term up to board
14 Aug 16, 5:02am
Bernard Hickey argues those saying the Reserve Bank should just give up on reaching its 2% inflation target need to remember the people who won't get jobs and the exporters who will be sacrificed
11 Aug 16, 11:11am
RBNZ's Wheeler expects banks to pass on most of OCR cut; says RBNZ will send debt to income multiple limit plan to English in next week or two, but unlikely to be introduced this year; says migration putting downward pressure on wages
11 Aug 16, 9:12am
RBNZ cuts OCR by 25 bps to 2.0% and forecasts just one more cut; NZ$ sprints over 73 USc after markets had forecast chance of 50 bps cut
8 Aug 16, 7:12pm
PM expects banks to be good corporate citizens and pass on all of OCR in full if they can; Key deflects calls for migration review; says migration needed with 5.2% unemployment; says RBNZ has flexibility with inflation target, but can use LVRs and cut OCR
7 Aug 16, 5:02am
Bernard Hickey argues the banks could help the Reserve Bank get out from between a rock and a hard place by not passing on next week's OCR cut to savers and borrowers
3 Aug 16, 12:33pm
Partial jobs and wages data weaker than expected in June quarter; private sector wage inflation soft at 0.4% for qtr and 1.6% for year; economists see plenty of room for RBNZ to cut OCR next Thursday
1 Aug 16, 2:21pm
LINZ data for June quarter shows 3% of buyers say they are foreign tax residents, but data doesn't include overseas students or tempory work visas, or trusts and corporates; LINZ says more reliable data due in a year
31 Jul 16, 5:02am
Bernard Hickey argues a much hairier target for this and future Governments would be to enable the building of the 131,000 extra houses in Auckland that the Unitary Plan creators say is needed over the next 7 years
24 Jul 16, 7:02am
Bernard Hickey is praying along with the Reserve Bank and the Government that the Unitary Plan now before the Auckland Council will not blow up in everyone's faces
21 Jul 16, 9:09am
RBNZ says inflation outlook has weakened due to 6% rise in NZ$ since June 9; says 'decline in exchange rate needed' as it's making it hard for RBNZ to meet inflation target; says likely further easing required
19 Jul 16, 9:14am
RBNZ acts to urgently tighten lending to investors; proposes 60% LVR limit for rental property investors nation-wide from Sept 1; also plans to tighten LVR lending above 80% for other borrowers
18 Jul 16, 10:52am
CPI up 0.4% in June quarter and up 0.4% from a year ago; Economists had expected around 0.5% for both; RBNZ had forecast 0.6%; Auckland rents up 3.5% and Auckland new house costs up 7.6% from year ago
17 Jul 16, 5:02am
Bernard Hickey challenges the knee-jerk idea that a big fall in Auckland house prices would automatically kill the economy and destroy the banks
13 Jul 16, 12:47pm
RBNZ's McDermott talks about monetary policy decisions, but is quiet on current conditions; says RBNZ using committees more in OCR decisions; says regularly researching drivers of surprisingly low inflation
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