Hot housing about financial stability not monetary policy: RBNZ

Fri, 11 Dec 2020

The Reserve Bank has no issue with beefing up its role in relation to house prices but says it is a financial stability concern, not a monetary policy issue.It also wants more tools, including debt-to-income limits.The central bank slashed interest rates to a record low 0.25 percent to help the economy weather the impact of covid-19 and while that has served to stimulate borrowing and spending, it's also stoked the housing market, turning it into a political hot potato for the government as it also contends with supply issues.That was refle...

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