Central banks must adapt and enhance their analytical capabilities, employing digital tools and methodologies to better understand the intricacies of the modern economy. Embracing digitalization can lead to improved policy formulation, more accurate forecasting, and effective risk management. Finally, we must not lose sight of the broader social and environmental responsibilities that accompany our role.
The sharp rise in people-per-dwelling in Auckland in 2014 highlights that home building remains well below the level required to accommodate the rising population. We estimate the shortage of houses in Auckland has increased over the past year to between 15,000 and 20,000 houses. 2  2  This is based on an assumed trend of 2.9 people-per-dwelling.