November 27, 2018 / 8:23 PM / 21 days ago

NZ cenbank to further unwind mortgage lending restrictions

WELLINGTON, Nov 28 (Reuters) - The Reserve Bank of New Zealand (RBNZ) said on Wednesday that it would further unwind mortgage lending restrictions at the start of next year as growth in the previously red hot housing market eased off.

“Both mortgage credit growth and house price inflation have eased to more sustainable rates, reducing the riskiness of banks’ new housing lending,” said governor Adrian Orr in the bank’s half-yearly financial stability review.

He also signalled that the restrictions would be eased further in the “next few years” if banks’ lending standards were maintained. (Reporting by Charlotte Greenfield in WELLINGTON, Wayne Cole and Swati Pandey in SYDNEY; Editing by Alison Williams)

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