tag:blogger.com,1999:blog-7342528022617501525.post5900644286964234948..comments2024-03-28T15:05:33.781+13:00Comments on Economics New Zealand: How tight is tight?Donal Curtinhttp://www.blogger.com/profile/03687495556590450225noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7342528022617501525.post-36890591799174348362014-02-05T16:06:16.351+13:002014-02-05T16:06:16.351+13:00Yes - it would be nice some day to come up with a...Yes - it would be nice some day to come up with an expanded version of the MCI that took in things like the LVR rules and any separate effect of longer maturity rates. I seem to remember the RB reckoned the LVR rules were worth 0.3% of OCR tightening, so as you say it's a material de facto tighteningDonal Curtinhttps://www.blogger.com/profile/03687495556590450225noreply@blogger.comtag:blogger.com,1999:blog-7342528022617501525.post-11477035201823681422014-02-05T10:13:42.143+13:002014-02-05T10:13:42.143+13:00Indeedy, and of course there is defacto tightening...Indeedy, and of course there is defacto tightening from LVR restrictions and the change in the yield curve in recent months.<br /><br />Sometimes we get a bit tied up in discussing monetary policy solely through the point-in-time OCR. It is a good sound bite, but can be misleading. I am as guilty of this as anyone of course :)Matt Nolanhttps://www.blogger.com/profile/05615455113796090765noreply@blogger.com