Central Banks In Wonderland: As RBNZ Holds Too!

Today we look at the latest from the Reserve Bank of New Zealand where rates were held, though following cuts of 2.25%, compared with the RBA 0.5%. Uncertainly remains the watchword. So we reflect on the different inflation track, and look at rental inflation in particular, in the light of the latest Domain data showing Sydney rentals are at record highs. This is a remarkably different track to what is happening in New Zealand and Canada, where rents and home prices are falling, as their Central banks cut rates. Government policy matters. But in Australia, high migration and big Government […]