Fed’s Waller Calls For Speedy Buyback Of Paring Bonds; RBNZ will further tighten mortgage lending

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Good afternoon. Fed Governor Christopher Waller said Monday that the Federal Reserve should consider cutting its monthly asset purchases by $ 120 billion immediately at its next meeting. “If the job reports do the way I think they are going … then I think with the gradual downsizing, we need to act early and act quickly,” he said. Elsewhere, the Reserve Bank of New Zealand said it would limit lower deposit mortgages to 10% of new loans, up from the current 20% for owner-tenants, because previous lending restrictions did not reduce risky loans sufficiently.

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