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N.Z. Home Prices Pressure RBNZ to Tighten, English Says

Rising home prices will increase the pressure on the Reserve Bank of New Zealand to raise interest rates, Finance Minister Bill English said.

“These households heading into quite high debt to buy highly priced houses need to be aware at some stage the RBNZ will increase interest rates, particularly if the housing market keeps growing at rapid rates,” English said yesterday in an interview broadcast on Television New Zealand’s Q+A.