The New Zealand government, through Finance Minister Grant Robertson, has decreed the Reserve Bank must consider house prices when making financial policy decisions. Robertson and Reserve Bank governor Adrian Orr had exchanged communication regarding the matter, with Roberston wanting to know how the Reserve Bank will use debt-to-income ratios. He also wanted to explore the restrictions on interest-only mortgages and the risk to the country’s financial stability. Meanwhile, a suite of measures to try and cool housing demand is expected in mid-March.
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