Home loan report: hope at last

The glimmer comes from none other than Reserve Bank governor Alan Bollard who, last week made some comments which have been interpreted as the bank moving towards an easing bias.

For the lazy person reading his official cash rate statement it is difficult to see where this is, but for analysts, who specialise in reading economic tea leaves, the tone is clear.

Bollard said the Reserve Bank "expect(s) that the OCR will need to remain at current levels for a time yet".

This, economist say, is a marked change from the March statement which said that the OCR will stay where it is for "a significant time yet".