RBNZ to support government housing objectives

Auckland, New Zealand
House prices have risen 11% year on year in Auckland

New Zealand’s central bank will be required to consider the housing market when making future monetary and financial policy decisions, the country’s finance and deputy prime minister announced.

In a statement today (February 25), Grant Robertson said the government had changed the remit for the Reserve Bank of New Zealand’s monetary policy committee (MPC).

The centre-left Labour government did not, however, change the RBNZ’s mandate – a move that was being considering late last year. The

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