RBNZ's Bollard on asset prices and monetary policy

In the speech 'Asset prices and Monetary Policy' given on 30 January Alan Bollard of the Reserve Bank of New Zealand said he would be willing to use monetary policy "to constrain extreme asset price bubbles," but that the current situation with housing did not call for such an intervention.

"Among central bankers right now one of the key topics of debate is whether monetary policy should actively seek to encourage asset price stability. The sharp end of this is whether monetary policy should seek

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