The Reserve Bank released a review of its loan:value ratio (LVR) policy for residential lending yesterday, but hasn’t made a recommendation on ending or changing the policy.
I found much of the review commentary from the Reserve Bank & Treasury either wishy-washy or sliding off topic, when I wanted to pinpoint a purpose, a direction, clear options and a reason for choosing one path over another.
An analytical paper published by the NZ Treasury last week raises questions about the accuracy of migration figures, largely because of the hard-to-analyse internal migration.
A lofty ambition worth aiming for, and an acknowledgment that more, and better, can be done: Prime Minister Bill English wrote, while he was still finance minister, that progress on monitoring the Government’s investments & assets was encouraging, but added: “The job is not done.”
On a scale of well to badly managed major projects – green through amber to red – a Treasury report issued yesterday said Auckland’s city rail link again scored a green, but Housing NZ’s programme to accelerate redevelopment of its land in Auckland to deliver affordable housing only scored an amber.
Treasury released documents last night showing it questioned the course the Reserve Bank has adopted in recent months to dampen Auckland’s bubbling housing market.