RBNZ considers greater focus on house prices in MPC decisions

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The Reserve Bank of New Zealand is to consider whether it could put greater weight on house prices when setting monetary policy, in response to a request from the government.

Finance minister Grant Robertson wrote to RBNZ governor Adrian Orr “to seek his advice on possible ways the Reserve Bank can support the government to meet its economic objectives”. One option is to modify the RBNZ’s remit to add an explicit focus on house prices when setting monetary policy. The remit specifies the

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