Low-equity loan limits worth one or two rate hikes, says RBNZ’s Spencer

Thu, 27 Mar 2014

By Paul McBeth March 27 (BusinessDesk) - The Reserve Bank’s speed limits on low-equity mortgage lending helped stifle inflationary pressures by an amount similar to one or two interest rate hikes and may have taken pressure off the high value of the kiwi dollar, according to deputy governor Grant Spencer. Speaking at the Credit Suisse Asian Investment Conference in Hong Kong, Spencer said monetary and macro-prudential policies have separate primary objectives, though there is a case for coordinating their use to meet both goals. In the cas...

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