The Reserve Bank says raising interest rates now isn't the right policy response to an overheated housing market.

Markets across the region were further rattled yesterday as the Chinese stockmarket fell to its lowest level in four years.

Ongoing fallout from the US plan to easemoney printing policy and uncertainty in Asian markets are being blamed for a fall on the New Zealand share market.

Mighty River Power shares slumped to a new low of $2.23 this morning as the local stock exchange followed world markets down, reaching its lowest point in a month.

Wall Street has declined after Fed chairman Ben Bernanke said the central bank may begin tapering its US$85 billion-a-month bond-buying program later this year.

If the market distortion is going to persist then those with the means should be buying multiple houses, they can't do anything but go up in value, writes Gareth Morgan.

The Greens back down on their print money policy is good - but co-leader Russel Norman shouldn't expect to be finance minister in a Labour-led government.

The Prime Minister John Key believes first-home buyers should be exempt from proposed restrictions to low-deposit home lending.

The Reserve Bank has kept its official cash rate unchanged at 2.5 per cent at today's monetary policy statement.