New Zealand central bank asks for more macro-prudential powers
Capital’s housing prices "among the highest in the world", report says
New Zealand's central bank has asked for further macro-prudential powers over the country's housing market, warning that the sector risks over-heating.
The Reserve Bank of New Zealand (RBNZ) warned of potential stress in housing, particularly in the nation's capital, Auckland, as well as in the country's key dairy farming sector in its latest Financial Stability Report, released today (November 30).
House price-to-income ratios in Auckland "remain among the highest in the world and prices are
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