RBNZ Deputy Governor emphasises LVR restrictions will be temporary and says RBNZ won't micro manage banks' credit books

By Gareth Vaughan

Reserve Bank Deputy Governor Grant Spencer has emphasised the incoming restrictions on banks' low equity home loans are temporary and, he says, the Reserve Bank won't be micro managing the banks.

Spencer was speaking at a press conference after the central bank's Official Cash Rate announcement and Monetary Policy Statement release yesterday.

"Our intention's not to micro manage the banks," Spencer said.

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