Key is looking for someone to blame on the housing crisis – Prime Minister John Key says Reserve Bank needs to ‘get on with it’ on housing measures
Prime Minister John Key was critical of the Reserve Bank Deputy Governor’s speech on dealing with the housing shortage.
“I stand by what I said, I think they should get on with it,” Key said.
Unsurprisingly – Reserve Bank refuses to play housing ball with government
Given the nod by the Prime Minister John Key on Tuesday to crack down further on investors as soon as possible, some thought yesterday’s speech by the central bank’s deputy governor, Grant Spencer, would just fill in the blanks about what form the intervention would take.
Only the central bank did not play ball.
In The Herald Liam Dann asks – Did the Reserve Bank just give two fingers to the Prime Minister?
Did the Reserve Bank just give two fingers to the Prime Minister?
If John Key was trying to hurry the Bank to hit investors with tougher lending restrictions, he has been ignored.
With comments this week – that the Reserve Bank “should just get on with it” – John Key did manage to build plenty of hype around deputy governor Grant Spencer’s speech to New Zealand Institute of Valuers in Wellington tonight.
But the Bank, quite rightly, didn’t respond to political pressure.
In fact, in a sign of growing tension with Government, Spencer hit back suggesting it might want to take a look at its migration policy – which it cites as driving strong housing demand – and ongoing housing supply shortfalls.
What next, John?