More New Zealand consumers expect higher house prices, adding to the case for a pick-up in the residential property market that may deter the central bank from cutting interest rates, according to ASB Bank Ltd.
For a central banker armed with what government officials call a peashooter, New Zealand’s Graeme Wheeler is proving to be a good shot.
New Zealand’s housing market will recover slowly, while a shortage of new construction is likely to bolster prices, ASB Bank Ltd. said, citing the results of a July survey.
New Zealand’s economy probably expanded last year at the fastest annual pace since the 2008 global financial crisis as a tourism boost from the Rugby World Cup outweighed weakness in manufacturing.
"There is a chance they won't need to hike again."
- Nick Tuffley on Dec 09, 2014