RBNZ Gov Spencer: Don't see collapse of housing prices as high risk

Speaking in Wellington

• First home buyers to benefit from LVR easing
• Expect tighter credit standards to continue
• Dont know when lending limits will be fully removed
• Credit growth, house prices key criteria in review
• Considered LVR loosening in interest rate decision
• LVR changes are not an attempt to bolster the housing market
• We still think DTI's is appropriate to have in the macro-prudential toolkit
• Has agreed with govt to postpone further consideration of DTI's over the next year