November 29, 2016 / 8:16 PM / a year ago

New Zealand's central bank warns of high risk in housing

SYDNEY, Nov 30 (Reuters) - New Zealand’s financial system is resilient to possible shocks though housing and dairy sectors continue to face risks, the country’s central bank said on Wednesday.

In a 58-page semi annual report on the health of the banking sector, the Reserve Bank of New Zealand (RBNZ) highlighted “significant risk” of further upward pressure on house prices.

“Financial stability risks can build up quickly and restrictions on high debt-to-income lending could be warranted if housing market imbalances were to deteriorate further.” (Reporting by Swati Pandey; Editing by Wayne Cole)

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