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News

Title: New LVR start date delayed

Date: 2016-08-18

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New LVR start date delayed
The Reserve Bank has delayed the start date of new LVRs aimed at investors from 1 September to 1 October 2016, following banking industry feedback.
Reserve Bank Deputy Governor Grant Spencer said banks had indicated they needed more time to meet the new LVR restrictions proposed by the Reserve Bank in July.
This was due to the pipeline of loan pre-approvals made prior to the Reserve Bank’s announcement, he said.
“We understand that banks have been applying the new LVR restrictions to new loan applications since the LVR changes were announced.
“On that basis we will defer the formal introduction of...

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Title: What the Reserve Bank said about interest rates

Date: 2016-08-12

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What the Reserve Bank said about interest rates
The Reserve Bank has reduced the Official Cash Rate (OCR) by 25 basis points to 2%.
Global growth is below trend despite being supported by unprecedented levels of monetary stimulus. Significant surplus capacity remains across many economies and, along with low commodity prices, is suppressing global inflation. Some central banks have eased policy further since the June Monetary Policy Statement, and long-term interest rates are at record lows. The prospects for global growth and commodity prices remain uncertain. Political risks are also heightened.
Weak global conditions and low...

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Title: HomeStart changes meant to open up market

Date: 2016-08-05

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HomeStart changes meant to open up market
Steep increases in house prices around the country have led the government to boost the income and house price caps in the KiwiSaver HomeStart scheme.
Starting from today, more New Zealanders will be able to access the KiwiSaver HomeStart scheme to buy their first property.
Building and housing minister Nick Smith has announced the government is increasing the scheme’s income and house price caps
“We are adjusting the income and house price caps to take into account increases in both since the scheme was announced, so as to ensure it achieves its objective of helping middle income earners into...

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