RBNZ’s Bollard plays down benefits of macroprudential tools
Alan Bollard, the governor of the Reserve Bank of New Zealand, on Friday said the use of macroprudential instruments in New Zealand would help bolster the financial system from shocks, but would not entirely eliminate credit cycles.
At a conference on Basel III in Sydney, Australia, Bollard said: "Macroprudential instruments that focus on system-wide imbalances can bolster financial system resilience and possibly help to moderate credit cycles. We need to be realistic about what can be achieved
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