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NZ central bank says it won't relax loan curbs

There remains a risk of a resurgence in house-price inflation, particularly in light of strong immigration flows, says governor

Published Wed, Nov 12, 2014 · 09:50 PM
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Wellington

NEW Zealand's central bank said it won't relax mortgage lending restrictions for now as surging immigration and low borrowing costs could re-ignite the housing market.

"There remains a risk of a resurgence in house-price inflation, particularly in light of strong immigration flows," Reserve Bank of New Zealand Governor Graeme Wheeler said in the bank's semi-annual Financial Stability Report released in Wellington on Wednesday. "We do not consider it appropriate to ease" the lending limits "at this time", he said.

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