RBNZ data today shows NZ property investment lending +7.6% in May

Data out from the Reserve Bank of New Zealand today:

• Property investor lending still growing strongly, up 7.6% in May

While tighter macroprudential rules are scheduled to come into effect in October, data like this today will increase RVBNZ concerns

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ADDED ... headlines crossing on the wires saying the NZ Treasury does not think the RBNZ makes a strong case for LVR proposals