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 solution to our current housing affordability issues, which is a complex challenge. 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. That will likely have implications for bank lending. Our banks will continue to be responsible lenders and welcome the opportunity to be part of any further solutions,” says Beaumont.