LVR move's effectiveness uncertain: Wheeler
He said there was some uncertainty on the impact of the restrictions, which start at the end of the month.
The official cash rate was kept on hold at 2.5% and Wheeler said it was not expected to move until next year.
The extent and timing would depend on movements in the exchange rate and to what extent house price inflation spilt over into the rest of the economy.
But he said that could be affected by the effectiveness of LVR speed limits. Banks will be required to keep their high-LVR lending to less than 10% of their loan books from the beginning of next month.
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