Dawn chorus: The genie has bolted
House price inflation expectations hit 24 year high; Auckland Council and Govt set to release congestion charging report today; NZIER reports migration doesn't help productivity much
TLDR: Morena. Not that’s it’s surprising after another shock spike in house prices, but it’s clear the housing expectations genie is out of the bottle. Again. A generation fought to get CPI inflation expectations down in the late 1980s and early 1990s, creating an inflation-targeting central bank and a 2% target to do it. But there’s little such consens…
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