House price consideration could be added to mandate – RBNZ’s Orr

New Zealand’s governor argues house prices are not the remit of monetary policy

New Zealand property

New Zealand’s housing objectives should be taken into account when setting financial policy, but should not be an explicit target of monetary policy, according to the governor of the Reserve Bank of New Zealand.

In a letter to finance minister Grant Robertson, governor Adrian Orr said the government could add house price considerations to its forthcoming financial stability remit. This would allow the government to direct the RBNZ towards a specific government policy.

“[This] would justify

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.