From the RBNZ Financial Stability Report:
- RBNZ says house prices remain overvalued
- Says loan limits curbed house sales more than expected
- Says could begin to remove the loan limits late in 2014
- Says a slowdown in China would hurt New Zealand and global markets
- Says NZ financial system in good shape
- Says that highly leveraged dairy farmers are at risk of an export price fall
There is a press conference (and then more later) still to come from Graeme Wheeler, governor of the Reserve Bank of New Zealand.
Full report is here: Financial Stability Report May 2014