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Building consents weak, consumer sentiment holds, NZD on hold
The February ANZ-Roy Morgan consumer sentiment survey reports consumer confidence rose another 1 point in February to 94.5, driven by a lift in perceptions of future conditions. But, worryingly, the same survey shows inflation expectations lifted for a second month, up from 4.3% to 4.5%. Consumers don't think inflation is tracking the right way. The value of building consents issued for new housing was down -$4 bln in the January year as building consents for new housing sank to their lowest level in five years. Townhouse and apartment consents are still falling faster than standalone house consents. Elevated build ... (full story)