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