Irish deputy defends macroprudential policies
Bank will review policies but only change in face of “significant” evidence, Donnery says
A deputy governor of Ireland's central bank has strongly defended its macroprudential policies following public criticism, including from some politicians.
If the limits on housing loans, together with capital buffers, "had been in place 15 years ago, the scale of financial crisis experienced in Ireland would have been much more limited", Sharon Donnery said in Dublin today (June 9).
Limits on housing loans were "designed to limit the risk of a house price – credit cycle emerging once again"
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