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Governor Graeme Wheeler says RBNZ to review LVR 'speed limits' criteria and implications next month
Reserve Bank Governor Graeme Wheeler has used a speech to an international audience to talk up the central bank's policies restricting banks' low equity mortgage lending and forcing them to use more deposits and longer-term wholesale money for funding. Wheeler also dismissed the idea of capital controls as rarely being a desirable option for open economies like New Zealand's. Wheeler was speaking at a Bank for International Settlements conference on cross-border financial linkages in Wellington. He reiterated what Reserve Bank Deputy Governor Grant Spencer told interest.co.nz in July, in that restrictions on banks ... (full story)