The Reserve Bank – Te Pūtea Matua welcomes the direction it has received today from the Minister of Finance. The Bank is tasked with considering how it can contribute to the Government’s housing policy objectives, consistent with its financial stability objective of promoting a sound and efficient financial system. The Minister of Finance has announced he expects the Reserve Bank to have regard to house price sustainability when making its financial stability policy decisions. “The Minister’s direction is in tune with our recent advice to the Government in which we detailed the many influences on house prices, ... (full story)