NZ PM out on the wires. Bloomberg reporting

  • New Zealand fundamentals remain strong
  • RBNZ stress tests show NZ banking system very strong
  • economy is robust
  • not immune to international market trends
  • Auckland house prices won't rise forever
  • RBNZ isn't over-reacting to housing market pressures with its lending rules
  • nothing new in what RBNZ dep gov Spencer said earlier

Key on the front foot at a news conference

NZD unimpressed at 0.6592 finding resistance between 0.6600-25 again after the earlier fall from 0.6680

NZ PM Key- Economy robust but not immune to international trends