Reserve Bank of New Zealand Governor Wheeler press conference:

  • Growth slowing in a number of trading partner economies
  • Investor activity driving a lot of the Auckland housing market
  • LVRs successful in changing risk of bank portfolios
  • looking at further macroprudential measures - debt to income ratios something we would look at
  • Not feasible to increase interest rates in the foreseeable future
  • Nothing specific on timing for new macroprudential measures, still doing analysis

If you are a bit over watching Gilligan's Island reruns and want something a bit different - here's the link to Wheeler. As soon as Maryanne and Ginger join Wheeler I'll be tuning in too.

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Earlier: RBNZ Financial Stability Report - housing and dairy are risks to stability Reserve Bank of New