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ASIA

Coming up in the Asia-Pac session on Thursday:

USDCAD TECHS

Retains Bear Cycle

US TSYS

Carry-Over Weakness for Bonds

AUDUSD TECHS

Bullish Price Sequence

MNI BRIEF: RBNZ Tightens LVRs To Cool Property Market

SYDNEY (MNI)

The central bank had flagged it was looking at loan-to-value ratios earlier this month.

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The Reserve Bank of New Zealand said on Thursday it will move to dampen the country's booming property market by proceeding with its plan to tighten Loan-to-Value Ratio (LVR) restrictions on lending to owner-occupiers.

The restrictions will limit the amount of lending banks can do above an LVR of 80% to 10% of all new loans to owner occupiers, down from 20% currently.

The RBNZ has proposed to introduce the new measured from Oct. 1, but they will now be introduced from Nov. 1 due to disruptions caused by the imposition of new lockdowns to curb the spread of Covid-19. The next monetary policy review is in October.