Still too early to declare victory on cooling house prices, RBNZ's Spencer says

Thu, 09 Feb 2017

By Paul McBeth Feb. 9 (BusinessDesk) - Reserve Bank deputy governor Grant Spencer says it's still too early to declare victory with the recent slowdown in house prices and the central bank will be monitoring demand pressures from migration and the ability of the construction sector to convert intentions into actual builds. The central bank acknowledged the moderation in house prices when keeping the official cash rate at 1.75 percent today, saying loan-to-value ratio limits on highly-leveraged lending and increasing mortgage rates had he...

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