Graeme Wheeler: LVR restrictions seem to be working
RBNZ governor says measures have reduced systemic risk and market seems to be cooling
The macro-prudential measures launched in New Zealand in 2013 have tackled risks in the banking system, and the housing market now appears to be cooling somewhat, the Reserve Bank of New Zealand Graeme Wheeler, said on August 30.
Looking back over his five-year term, the outgoing governor of the central bank noted the “sensitivities” around interfering in the housing market, but said the loan-to-value ratio (LVR) restrictions imposed had reduced systemic risk associated with the “rapid” rise in
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