Dawn chorus: Next OCR move up?
Lower-than-expected unemployment prompts talk next interest rate move is up; BNZ joins ANZ in moving to 40% deposit for landlords to fend off flood of applications; Does 'no jab equal no job'?
TLDR: A surge in construction employment in the December quarter drove unemployment down unexpectedly to 4.9%, unleashing forecasts the next move in interest rates may be up by the middle of the year.
BNZ’s economists even forecast the Reserve Bank would hike its Official Cash Rate in May and ANZ’s ecnomists removed an expected cut from their forecast. …
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