Westpac NZ sees LVR speed limits slowing housing credit as business lending picks up

Mon, 04 Nov 2013

Nov. 4 (BusinessDesk) – Westpac Banking Corp’s New Zealand unit expects housing credit growth to slow next year as the Reserve Bank’s LVR restrictions bite, although that will be offset by faster business credit growth as the economy accelerates. The bank forecasts housing credit to grow 5.7 percent in 2013, up from 3.7 percent in 2012, before slowing to a 5.2 percent pace in 2014. By contrast, business credit is seen slowing to 3.1 percent this year from 3.3 percent in 2012, before picking up to 4.9 percent next year. Total credit growth is...

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