NZ: IMF report warned on high household debt levels and “moderately” overvalued currency - TDS

Research Team at TDS notes that IMF report on NZ warned on high household debt levels (and suggested introducing a DTI) and suggested that the currency was “moderately” overvalued. 

Key Quotes

“Nothing new anywhere in the report but policy suggestions to tax housing or curb house prices are not viable in an election year (due September 23).  Separately, the National govt’s 7month fiscal surplus of $NZ1.145b is well ahead of expectations via higher (company tax) revenues and lower (earthquake) spending, a favourable combination.”