New Zealand's central bank said on Thursday that it was looking into the government's request seeking advice on implementing tools like debt-to-income ratios and interest-only mortgages to tackle a housing crisis in the country.
The government said earlier in the day that the Reserve Bank of New Zealand (RBNZ) will now be required to consider the impact on housing when making monetary and financial policy decisions.
RBNZ welcomed the move, and said the Monetary Policy Committee’s (MPC) targets remain unchanged, which is to maintain stability in consumer price inflation and contribute to maximum sustainable employment.
(Reporting by Praveen Menon; Editing by Leslie Adler)
