The Reserve Bank released a review of its loan:value ratio (LVR) policy for residential lending yesterday, but hasn’t made a recommendation on ending or changing the policy.
I found much of the review commentary from the Reserve Bank & Treasury either wishy-washy or sliding off topic, when I wanted to pinpoint a purpose, a direction, clear options and a reason for choosing one path over another.
LVR review phase 1 done – Colliers auction – One sells, one passed in at City Sales
The Reserve Bank reduced the official cashrate by 25 basis points to 1.5% today.
The Reserve Bank held the official cashrate at 1.75% today, and governor Adrian Orr said: “Given the weaker global economic outlook & reduced momentum in domestic spending, the more likely direction of our next OCR move is down.”
City Sales auction – 1 sells out of 3, Reserve Bank holds, First apartment sells at Bayleys auction