A review of the things you need to know before you go home on Tuesday; RBA rates on hold; the listing drought grows, strong car sales, employee share offers, record commodity prices

Here are the key things you need to know before you leave work today. (Updated with the RBA decision.)

AUSTRALIA HOLDS ITS OFFICIAL RATES
The RBA left its rates unchanged today, saying a term of rate stability is "the most prudent course". It does see Aussie unemployment rising, but overall they have issued quite an upbeat assessment.

HOUSE LISTING DROUGHT
Realestate.co.nz reports a sharp drop in number of new listings in February; average national asking prices have hit another record; Auckland asking prices are also a record.

STRONG FEBRUARY VEHICLE SALES
Registrations of new passenger cars was the best for a February since 1989 and sales of new commercial vehicles were the 5th month in a row where the monthly registrations year on year has been the highest since the MIA began collecting records.

NZSF SELLS DOWN FOREST INVESTMENT TO IWI
Six central North Island iwi have joined forces to buy a 2.5% stake in New Zealand’s largest forestry business, Kaingaroa Timberlands which is worth about $2.4 billion. The investment of about $60 million is one of the biggest ever involving an iwi collective. The NZ Super Fund's reduced stake will be 38.75%.

THERE'S MONEY IN MUCK
Australia's Transpacific Industries, which bought Waste Management for NZ$870 million in 2006, has just sold it to Beijing Capital Group for NZ$950 million. Beijing Capital is a huge Chinese SOE, and it seems they are interested in Waste Management's IP more than their kiwi earnings potential.

EMPLOYEE SHARE OFFER SCHEMES
Employee share schemes have fallen out of favour recently. One reason is that the law requires full investor offer documents and they are expensive and a big barrier. However, the Government has signaled it will be changing the rules for employee share scheme offers requiring in the future only three 'simple' issues covered: a 'warning' statement, full details of how the scheme works, and financial statement disclosure. It is expected this will reinvigorate such offers, especially as a staff retention tool.

MORE COMMODITY PRICE RECORDS
Today's ANZ commodity price index hit another record in world price terms, and a nearly three year high in NZD terms. But look at the aluminium prices - they are back again below their 1987 levels. Rio is doing us a favour buying that Manapouri electricity. Aluminium is a bad business. 

FEAR ASSETS
The gold price, and crude oil prices both set 2014 highs today. The VIX rose to to 16, but in the longer perspective, markets are not actually very worried yet about the Ukraine effect.

WHOLESALE RATES
Swap rates fell today for terms three to ten years with the biggest falls (-3 bps) at the long end. They rose 1 bp at the short end. The flattening is compounding and getting very marked. The 90 day bank bill rates held at 2.98% today. Markets 'know' an OCR is coming. International money is getting cheaper, however. Conditions for the re-emergence of the carry trade are coming back.

OUR CURRENCY RISES
The NZD has changed very little today. TWI is now 78.5, the NZD is 83.6 USc and 94.0 AUc.