The Reserve Bank of New Zealand said on Friday that adding house price consideration to its monetary policy remit was not preferred option, as it responded to a letter from the finance minister earlier this month amid concerns of a housing bubble.
RBNZ said it could however be required to have regard to housing issues in its financial policy settings and this could be achieved using the Reserve Bank of New Zealand Bill (RBNZ Bill), which is due to have its first reading this week.
(Reporting by Praveen Menon; editing by Diane Craft)
