28 Apr 2014
NZ economic events ahead - BNZ
FXStreet (Bali) - The prime focus in the NZ economic calendar for this week will be Wednesday afternoon’s ANZ business survey, notes the Economics Team at BNZ.
Key Quotes
"While its ballistic growth indicators can afford a (well-overdue?) correction and not mean that much, any further increase in its pricing intentions variables would be the more important."
"The NZ data week formally kicks off, however, with Tuesday’s (10:45am) merchandise trade figures. We’re expecting another solid set of numbers, with exports of $4,981m (13% y/y) and imports of $4,043m (10% y/y) making for a March surplus of $937m. This is reasonably close to the various polls and would infer further solid gains in GDP along with ongoing reduction in the current account deficit."
"Tuesday afternoon the RBNZ publishes its March reading of high LVR mortgage lending. We assume this remained well under the RBNZ-imposed 10% ceiling, although obviously with room to be a little higher than February’s 4.2% proportion, ex exemptions."
"Wednesday morning’s building consents quite simply seem prone to pop right back up, having been suppressed by oddly weak numbers for apartments over January and February."
"Wednesday afternoon’s credit aggregates will likely keep expanding at a respectable, if moderate, clip – including in household credit, in spite of the LVR restrictions."
Key Quotes
"While its ballistic growth indicators can afford a (well-overdue?) correction and not mean that much, any further increase in its pricing intentions variables would be the more important."
"The NZ data week formally kicks off, however, with Tuesday’s (10:45am) merchandise trade figures. We’re expecting another solid set of numbers, with exports of $4,981m (13% y/y) and imports of $4,043m (10% y/y) making for a March surplus of $937m. This is reasonably close to the various polls and would infer further solid gains in GDP along with ongoing reduction in the current account deficit."
"Tuesday afternoon the RBNZ publishes its March reading of high LVR mortgage lending. We assume this remained well under the RBNZ-imposed 10% ceiling, although obviously with room to be a little higher than February’s 4.2% proportion, ex exemptions."
"Wednesday morning’s building consents quite simply seem prone to pop right back up, having been suppressed by oddly weak numbers for apartments over January and February."
"Wednesday afternoon’s credit aggregates will likely keep expanding at a respectable, if moderate, clip – including in household credit, in spite of the LVR restrictions."