English flags further macroprudential tools may be needed to cool housing market

Wed, 11 Feb 2015

By Suze Metherell Feb. 11 (BusinessDesk) - Minister of Finance Bill English says the government is heeding the Reserve Bank of New Zealand's call for more housing in Auckland's bubbling real estate market by trying to boost supply, while flagging that further macro prudential tools may be needed from the bank. Last week central bank governor Graeme Wheeler told the Canterbury Employers’ Chamber of Commerce the bank warned "the more that house prices get out of line with historic relativities, the greater the risk of a sharp correction, l...

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