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House talk fails to include banks

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Last updated 05:00, November 19 2017

No conversation about housing can be held without including the banks, says Shamubeel Eaqub.

OPINION: The housing market will face a plethora of changes from the new Government. These changes are necessary to increase the supply of housing and dampen speculation in the housing market. One area is missing: banking.

There is a golden opportunity to address this when choosing the new governor and the proposed review of the RBNZ's roles and responsibilities.

To date, much of the dialogue has been around monetary policy and the inclusion of "full employment". The RBNZ already does this and there will be little change in the way it conducts monetary policy.

Shamubeel Eaqub: "We can't miss a key agent in the never ending housing bubble – banks.''

The RBNZ has continued to regulate banks as if it is only affecting the cycle of the economy and asset prices, particularly housing.

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