RBNZ must consider housing but it's more about financial stability

The RBNZ now has to assess how its decisions — with respect to inflation and employment — impact the government’s housing directives.

Rebecca Howard

Thu, 04 Mar 2021

What does Finance Minister Grant Robertson’s new decree that the central bank must take housing into account actually mean?“There’s a lot of confusion as to what it does mean or doesn't mean. So, I would say from a monetary policy perspective, it doesn't mean much,” central bank chief economist Yuong Ha told BusinessDesk.Why?“The remit says the primary objectives are still price stability and maximum sustainable employment,” he said.Basically, the bank now has to assess how its decisions — with...

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