This news conference will start at about 3:00pm.
Our report on what this August 2020 Monetary Policy Statement means is here and will be updated as necessary following this news conference.
The RBNZ media release is here.
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4 Comments
Key take away for me: The banks have been the ones hounding him to put the LVR's back on.
They feel if their individual bank places safe, they themselves are playing a helping hand in NZ's financial stability, but if all other banks don't then they'll obviously lose a lot of market share.
So it needs to be agree'd that all banks play within set bounds of LVR's for the whole benefit of NZ's financial stability -
As good as a gentlemen's agreement today, and I'd be interested in what brokers can tell me, but I'd say high LVR lending over 70% for investment property from today will be off the cards across all main banks
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