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Amid a politically damaging housing crisis, the Finance Minister is promising "bold" action to dampen house price inflation.
On Tuesday, the Reserve Bank reintroduced lending restrictions for first home buyers and investors, but there is disagreement about how much of an impact this will have.
Finance Minister Grant Robertson says he intends to announce new measures to reduce demand, alongside continued efforts to boost supply.
He says the proposals will go to Cabinet "very soon".
Kiwibank chief economist Jarrod Kerr speaks to Susie Ferguson.