Podcast Appearances
So I guess encouraging if that can continue, we can start to see those departures slowing down even more as well as those arrivals coming in.
and there's a fair bit of pretty good evidence suggesting that the relative labor market performance plays a role in this you know if Australia for example is looking stronger in terms of its unemployment rate and jobs growth you tend to see that the New Zealand net migration balance is pretty soft as
as everyone heads off over there or migrants from other countries go to australia instead of here so um yeah just a bit of a hint that that relative position is turning around a little bit particularly not necessarily just yet but forecasts of a new zealand unemployment rate coming down jobs growth picking up a little bit but those relativities might shift and so they would play into a slightly stronger net migration balance so yeah like i don't think it's
It's nothing sort of emphatic yet, but when you look at that NZAC, when you look at net migration just turning around a wee bit, it does start to look a little bit more positive.
But there's also reasons for caution as well.
For every sort of positive headline you see, there are also other ones saying people are still battling with the cost of living, those sorts of things.
So a bit of balance I think is still important, but more encouraging numbers.
I mean, I wouldn't be surprised if the actual numbers stay pretty much unchanged.
I would say this is a monetary policy statement.
You get the detailed forecast.
I mean, they could change just simply because she's a new governor and kind of wants to make things look a bit different.
I'm not sure.
But yeah, the actual path for some of those key numbers that come in that spreadsheet, GDP, employment, house prices, CPI inflation and the official cash rate itself, they project all of that.
Yeah, I kind of wonder if that will stay pretty much the same.
it's probably more of a gut feel than anything else but I'll definitely be going straight to that spreadsheet to check it out in particular the OCR track I really just want to see if that's changed and by how much if it has changed and in what direction but yeah so I kind of I do wonder if the numbers themselves might stay pretty much unchanged and it's about
you know we'll all have to dig into the you know written commentary and the press um conference and just sort of go what word have they included you know the economists sort of arguing over you know choice of words what's in what's out so but it could be that it's actually
subtle change in direction through the through the language rather than necessarily the numbers i wonder if that's how it sort of comes out but yeah all to be revealed on um on wednesday anyway i mean the perhaps the the bigger picture for for people just the casual observer following all of this is is okay you could you could you know we'll all get excited about what's in the spreadsheet and what's in the report but
does it mean for mortgage rates you know i guess um the the people who have because we know that the next move whenever it happens so this is what the question is about we know the next move is going to be up so all of this discussion and intrigue i guess is about well when will that happen um it's not so much a question of will the next move be up it's about the timing