New Zealand continues to attract a high number of migrants with October's net monthly inflow of 6210 the highest on record.
Annual net immigration climbed to 62,500, also another record high.
Inbound migration of 10,920 for October was the strongest on record.
It has been above 10,300 for four consecutive months, having averaged about 9650 in the preceding year.
BNZ senior economist Craig Ebert said while everyone kept expecting net immigration to tail off, it kept setting new all-time highs.
October's net inflow hit a seasonally adjusted 6210, surpassing September's 5600.
It annualised to about 75,000.
''Our forecasts assume a 60,000 peak for net immigration in 2015, easing to a still-lofty 54,000 during 2016. We might well need to revise this profile up.''
To put it into some perspective, net immigration in the order of 75,000 a year boosted New Zealand's resident population by around 1.7% each year, he said.
That was a sizeable number to build into macro-economic forecasts.
It was only a few years ago, in 2012, net immigration was flat to slightly negative, he said.
''This increases pressure on a local housing market that has more than enough to keep it pumping already - including low mortgage rates.''
Also, 75,000 was a lot of people to have to absorb into the local labour market over the course of 12 months, Mr Ebert said.
ASB senior economist Jane Turner said there were no signs of net immigration moderating.
Strong net migration inflows were helping support robust levels of consumption, but were also adding workers to the labour market and helping keep a lid on wage inflation.
In the year to October, permanent arrivals totalled 120,123, according to Statistics New Zealand figures.
Of those, 27,480 (23%) were on student visas, 36,760 (31%) on work visas and 12,900 (12%) on resident visas.
New Zealand and Australian citizens accounted for 35,600 of the annual arrivals.
Ms Turner said October's data recorded the first annual gain in net migrants from Australia since the November 1991 year when there was a net inflow of 100.
Fewer New Zealand citizens departing for Australia and increased arrivals from Australia had caused the change.
In 2012, the net outflow was 40,000.
