RBNZ's Wheeler says interest rate hike to calm Auckland housing market 'pretty negligible' in short term

Wed, 11 Nov 2015

By Paul McBeth Nov. 11 (BusinessDesk) - Reserve Bank governor Graeme Wheeler says raising interest rates as a short-term monetary policy response to Auckland's overheated housing market is "pretty negligible". Wheeler was appearing before parliament's finance and expenditure committee after the release of the bank's Financial Stability Report. In response to a question from National Party MP Andrew Bayly on the International Monetary Fund's review saying a monetary policy response could be considered to help contain financial stability ri...

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