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NZ: Reserve Bank looks to cool property market

Posted on 18 March 2013

The Reserve Bank is looking to introduce new economic tools to cool down the housing market. Interest rates are set to stay steady until the end of the year, easing pressure on mortgage holders, but the Reserve Bank and the Government are looking to introduce new economic tools to control rising prices.
Economists say the Reserve Bank cannot raise the Official Cash Rate without hurting farmers, exporters and businesses. “The Reserve Bank is in a catch 22 situation. It needs to push up the Official Cash Rate to cool down the housing market but if it did that it would hurt the rest of the economy and push up the New Zealand dollar,” Interest.co.nz’s Bernard Hickey said………………………………………..Full Article: Source


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