New Zealand bank lending for housing surged again in October

This will bolster the New Zealand government view of tightening lending of housing in the country.

Housing lending rose 1% m/m, the most on record (since 1998)

  • up 7.3% y/y

Meanwhile lending for:

  • business -0.5% m/m, -3.1% y/y
  • consumer l-11.2% y/y 

NZD is up on the session but at its lows of its pullback:

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