RBNZ zeroes in on threat of housing, construction fuelling inflation

Wed, 24 Jul 2013

By Paul McBeth July 25 (BusinessDesk) - Reserve Bank governor Graeme Wheeler is sharpening his focus on New Zealand’s bubbling housing and construction sectors and the threat they pose to inflation. The central bank kept the official cash rate on hold at 2.5 percent today, while saying the “removal of monetary stimulus will likely be needed in the future and linking any hike to how much “the growing momentum in the housing market and construction sector spills over into inflation pressures,” Wheeler said in a statement. He kept the expectat...

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