RBNZ gains tool to curb house price rises

Big house among smaller houses

The Reserve Bank of New Zealand has gained a new macro-prudential tool it could use to curb recent house price growth.

At the request of the central bank, finance minister Grant Robertson approved the use of debt-to-income (DTI) limits. However, the minister said the tool should be designed to avoid impacting first-time buyers “wherever possible”.

New Zealand’s hot housing market has become a sensitive political issue for the RBNZ. The central bank has clashed with the government over how best

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