The RBNZ is smiling, nodding at its newly imposed housing remit but their pushback started yesterday

Author: Eamonn Sheridan | Category: Central Banks

Greg had the Reserve Bank of New Zealand news posted earlier:

The RBNZ welcomes the new remit, sort of:
  • The Bank welcomes the Minister's request for more information and analysis on debt-to-income ratios and interest-only mortgages, and will respond in due course.
(that's from an RBNZ statement, Governor Orr no less, on the new instructions)

However, the Bank had this to say yesterday:
  • initial demand for houses is past its peak
The way to read that is there is not a lot they need to do on housing right now. I suspect the RBNZ will re-examine macroprudential tools and what have you. Keep the minister happy. 

Greg had the Reserve Bank of New Zealand news posted earlier:




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