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Early Questions Re: Housing


Governor Orr stresses remit on inflation & employment when questioned on house prices, notes that loose monetary policy supports asset prices and New Zealanders have a preference for investing in houses. Re-highlights concern on the impact that high prices can have on financial stability and points to the recent LVR tightening. Plays down any suggestion that the previous removal of LVR restrictions was the key factor in house prices moving higher. Orr is confident that the LVRs will be biting, if they don't will continue work

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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