RBNZ imposes tougher lending restrictions

RBNZ imposes tougher lending restrictions
Rebecca Howard
The Reserve Bank said financial stability risks posed by the hot housing market are worse than it thought, and it's trying to suffocate the fire with tighter lending curbs. Most property investors will need a 30 percent deposit to obtain bank lending from March 1 and a 40 percent deposit from May 1. Most owner-occupiers looking to buy will once again need a 20 percent deposit by March 1.The central bank removed the loan-to-value ratio restrictions in April 2020 to help mitigate the economic impact of the covid-19 pandemic.“We are...

More Economy

RBNZ keeps rates on hold at 5.5% as expected
Economy

RBNZ keeps rates on hold at 5.5% as expected

Inflation was 4.7% in the December quarter.

Rebecca Howard 10 Apr 2024
Funding ‘crisis’ drives listed providers out of aged care
Economy

Funding ‘crisis’ drives listed providers out of aged care

The cost of delivering aged care services has “accelerated exponentially”.

Gregor Thompson 10 Apr 2024
Opal packaging to cut jobs
Economy

Opal packaging to cut jobs

The company has 715 employees across eight sites in New Zealand.

Murray Jones 09 Apr 2024
Mojo lost, NZ’s battle against gloom
Economy

Dileepa Fonseka: Mojo lost, NZ’s battle against gloom

This country seems to be setting a record for mentions of the word 'mojo'.

Dileepa Fonseka 08 Apr 2024