Reserve Bank refusing to play ball with govt

• It appeared all set up for the Reserve Bank to deliver some much needed relief to the government, which has been under heavy pressure to address runaway house prices.

Given the nod by the Prime Minister John Key on Tuesday to crack down further on investors as soon as possible, some thought yesterday’s speech by the central bank’s deputy governor, Grant Spencer, would just fill in the blanks about what form the intervention would take.

Only the central bank did not play ball.

READ MORE VIA RADIO NZ

John Key, left, gave the nod for a further crack down on property investors, but the Reserve Bank’s Grant Spencer didn’t play ball. Photo: RNZ / Supplied