SUBSCRIBERS

Auckland house prices keep central bank awake at night, says official

Published Mon, Aug 24, 2015 · 09:50 PM
Share this article.

Wellington

SURGING Auckland house prices pose an increased risk to New Zealand's financial stability but the central bank can't raise interest rates to curb demand, deputy governor Grant Spencer said.

"When something keeps you awake at night, it is good to do something about it," Mr Spencer said in a speech published on the Reserve Bank's website on Monday. The response must be multi-faceted because "the current weakness in export prices, economic activity and CPI…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Property

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here