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![NZ dollar rises to 4-year high vs Aussie](/pf/resources/images/placeholders/placeholder_l.png?d=793)
NZ dollar rises to 4-year high vs Aussie
The New Zealand dollar surged to its highest in four and a half years against its Australian counterpart as New Zealand's rising interest rates and growth outlook increase the lure of the nation's currency.
![Small NZ banks on notice - S&P](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Small NZ banks on notice - S&P
Standard & Poor's, the global credit rating agency, has put eight local banks on notice over the rising risk of a housing bubble bursting in New Zealand.
![Property boom: House prices soar](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Property boom: House prices soar
House prices are booming around New Zealand - with the average price of an Auckland city home rocketing to $735,692, up 12 per cent over the past year.
![Support for curb on home loans](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Support for curb on home loans
Auckland's top real estate agency has welcomed the Reserve Bank's moves to dampen the hot housing market but doesn't expect prices to suddenly drop.
![Bank signals mortgage restrictions](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Bank signals mortgage restrictions
The Reserve Bank has given strong signals that it intends to restrict mortgage lending at high loan-to-value ratios, to rein in credit growth and house price inflation.
![Reserve Bank confirms intervention](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Reserve Bank confirms intervention
The Reserve Bank of New Zealand says it intervened in foreign exchange markets in an attempt to drive the kiwi lower. It gave no details of the size of the intervention.