New Zealand central bank dep gov Grant Spencer speaks on housing
RBNZ is concerned about growing housing imbalances
Contemplating further macroprudential tools to curb housing market
Considering tightening LTV ratios further, could be introduced by year end
limits on debt to income ratios may also play a role
Concerned about risks to financial and economic stability due to housing market imbalances
The comments have given NZDUSD a near 20 pip lift to a high of 0.7167
Further rate cuts could pose a financial stability risk
CPI will ultimately determine monetary policy
These hawkish comments push the kiwi up further to 0.7189
