09.05.2013 - Stronger housing market raises financial risk for NZ - RBNZ
A surging New Zealand housing market is raising the risks to the country's financial system, prompting a move to tighten lending rules for major banks, while an overvalued currency is hindering the rebalancing of the economy, the central bank said on Wednesday. The Reserve Bank of New Zealand (RBNZ) repeated warnings that house prices are overvalued in some areas and banks have loosened their lending rules, which is leading to households becoming more indebted and more vulnerable........................................Full Article: Source
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