Reserve Bank governor Graeme Wheeler, on a visit to Dunedin
yesterday, chats to Otago Chamber of Commerce president Peter
McIntyre (right) and Dunedin Mayor Dave Cull (left).
Mr Wheeler addressed the chamber at a luncheon at the Dunedin
Club, which was closed to the media.
Later, Mr McIntyre said Mr Wheeler expected New Zealand's
economy to strengthen and, while he still saw some risks, he
was confident about the international situation.
He was asked about New Zealand's reliance on the dairy
sector, and about its level of debt. Mr Wheeler said while
dairy debt was high, it was manageable.
Asked about loan-to-value ratio restrictions on bank mortgage
lending, he said the Reserve Bank considered limiting the new
rules to the regions with the hottest property markets, but
lacked the firm data to make the decision. He also talked
about the expected interest-rate rises.
Mr McIntyre appreciated the transparent approach Mr Wheeler
brought to the role.
It was the first time the chamber had hosted Mr Wheeler.