Month: February 2021

Government compels RBNZ to “consider housing” when setting rates

“There’s no single solution to our current housing affordability issues, which is a complex challenge,” said Beaumont. “Potential responses include addressing both supply and demand issues. Today’s announcement is more about managing the demand side, and what mechanisms the Reserve Bank has available to do that.

Banks support new housing remit for RBNZ

Banks welcome today’s announcement that the Reserve Bank will consider the impact of its monetary and financial policy decisions on the housing market. “Banks support today’s announcement and are keen to be involved in discussions around how to tackle the current housing situation,” says New Zealand Bankers’ Association chief executive Roger Beaumont. “There’s no single… Read more »

Delivering in a crisis

Our banks played a role as part of the ‘team of five million’ coordinated response. Working with the government, the Reserve Bank and credit reporting agencies, banks moved quickly to offer loan repayment deferrals and reduced loan repayments for customers financially affected by the pandemic. That provided immediate relief for many. Around $70 billion in… Read more »