Reserve Bank Governor Adrian Orr, left, and Finance Minister Grant Robertson after signing the new Policy Targets Agreement at Parliament. Finance Minister Grant Robertson says "the Reserve Bank is now required to consider housing" when making monetary and financial policy decisions. The Reserve Bank already considers risks around residential housing debt when it assesses the nation's financial stability. Reserve Bank Governor Adrian Orr said the RBNZ welcomed the new direction. Yesterday it left the official cash rate on hold at a record low of 0.25 per cent and warned monetary policy stimulus would be required for some time yet.

Source: New Zealand Herald February 24, 2021 21:02 UTC