24 Nov 2020

Govt calls Reserve Bank to help cool surging house prices

From Checkpoint, 5:07 pm on 24 November 2020

The government is looking to conscript the Reserve Bank to help check the skyrocketing price of housing in New Zealand.

The central bank's been copping some blame as cheap credit driven by record low interest fuels the overheated market.

Governor Adrian Orr has been pushing back, saying the bank's been acting to its main mandate - inflation and sustainable employment - and the housing problem is not its problem.

But now the Finance Minister wants to draw it into the broader government response, as the political pressure piles on.

RNZ political editor Jane Patterson has the story.