NZ central bank likely to use new tools within six months, followed by interest rate hikes, NZIER says

Wed, 29 May 2013

By Tina Morrison May 29 (BusinessDesk) – New Zealand’s Reserve Bank will likely use its new macro prudential tools within the next six months to cool Auckland’s overheated housing market and follow up with interest rate rises, according to the New Zealand Institute of Economic Research. “The Reserve Bank will want to use and have to use macro prudential tools over the next six months,” Shamubeel Eaqub, principal economist at the institute, said at a briefing in Wellington today. “I don’t think it’s going to be enough on its own. From the beg...

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