RBNZ’s Wheeler seeks ‘soft landing’ for property market

Thu, 13 Jun 2013

By Paul McBeth June 13 (BusinessDesk) - Reserve Bank governor Graeme Wheeler is trying to cushion the landing for the country’s over-heating property markets in Auckland and Christchurch, in an effort to avoid the pitfalls seen in the US. The central bank is consulting with banks on the implementation of macro-prudential policy, which would require them to carry more capital on their balance sheet or restrict the extent of their low equity residential lending. The RBNZ got government approval to use the tools last month. “I don’t think I w...

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