Reserve Bank looks to new income-based home lending restrictions

Wed, 11 May 2016

By Pattrick Smellie May 11 (BusinessDesk) - New lending restrictions to prevent people borrowing too much relative to their income are on the cards, the Reserve Bank of New Zealand's two most senior officials say. Governor Graeme Wheeler and deputy governor Grant Spencer made the comments at a media conference after the release of the bank's six-monthly financial stability report, which highlighted concern about the resumption of unsustainably high house price inflation nationwide, and especially in Auckland. The report stopped short of i...

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