The case against RBNZ using DTIs: Harrison

The case against RBNZ using DTIs: Harrison
Finance minister gave the RBNZ greenlight to use DTIs. (Image: Getty)
Jenny Ruth
The Reserve Bank's obsession with wanting the macroprudential tool of being able to impose debt-to-income restrictions (DTIs) on banks is "irrational and emotional", according to a former Reserve Bank of New Zealand (RBNZ) official, Ian Harrison."The bank has become so wedded to the idea of a DTI, they simply can't let it go," Harrison said in a submission responding to RBNZ's consultation paper issued in November. Submissions closed on Monday."The RBNZ backed off the DTI in 2017 and we thought that they had...

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