RBNZ remains uncomfortable with house prices
Macro-prudential measures ‘having desired effect’ but stability still risky
The Reserve Bank of New Zealand (RBNZ) offered new evidence highlighting the success of its macro-prudential measures today, but warned that financial stability in the economy could still "deteriorate" following a "sharp correction" in house prices.
In its latest financial stability report, the central bank said the limit on the amount of mortgages banks could offer with high loan-to-value ratios – introduced in October – was "having the desired effect" and reining in the New Zealand housing
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