www bnzmarkets co nz page 1 bnz strategist migration inflows not enough 2 mixed messages from aussie uk and south korea 4 currency strategy 7 dollar bloc interest rate 9 money market 11 credit markets 12 data review 14 key upcoming releases 15 quarterly forecasts 16 17 calendar 18 contact details 19 economic outlook immigration figures have shown reasonably strength in recent months this has been a bit of surprise to us we find ourselves revising upwards our net projections such that permanent long term migrants while modest are here stay further will hopefully help underpin the soft landing expect for new zealand however convinced flows be sufficient seriously alleviate economy s excess demand labour caution there remains significant risk constraints continuing impede expansion resulting upward pressure on wages growth is slowing it doing so almost year now what more easing pace some moderation
