BNZ boss skeptical on LVR policy

Wed, 30 Oct 2013

Oct 31 (BusinessDesk) – Bank of New Zealand chief executive Andrew Thorburn is sceptical the Reserve Bank’s new loan to value ratio lending restrictions will work when they are trying to lean against a physical shortage of available housing. “The Reserve Bank have a good track record over the last five years since the GFC of making consistent and sensible calls,” Thorburn told BusinessDesk in an interview following release of the bank’s profit result for the year to Sept 30. “This is a new initiative,” he said. “He (RBNZ governor Graeme Wheel...

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