December rate hike unlikely - economists

Tuesday 9 November 2004

The Reserve Bank is unlikely to raise interest rates again next month, though wages are expected to keep rising and unemployment may drop below 4 per cent, economists say.

By The Landlord

Statistics New Zealand figures issued today showed wages steadied in the September quarter, as did demand for labour.

The labour cost index rose 0.6 per cent in the September quarter and 2.2 per cent for the year, in line with expectations but close to recent highs.

The quarterly employment survey showed private company ordinary time hourly earnings fell 0.2 per cent in the same quarter, taking the annual growth to 3.3 per cent, lower than expected.

Read More - Opens in a new window
Commenting is closed

Property News

Consents fall could have been worse

New dwellings consents dropped in April. That didn’t surprise anyone but economists were surprised that the drop wasn’t bigger.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Commercial

Resilience needed in face of change

The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.

Site by PHP Developer