# How Central Banks Use Macroprudential Policy to Cool Housing Markets

Page: https://stenobird.com/podcast/monetary-policy-explained-with-fexingo-central-banks-money-supply-and-interest-rates-7872013/how-central-banks-use-macroprudential-policy-to-cool-housing-markets
Text version: https://stenobird.com/podcast/monetary-policy-explained-with-fexingo-central-banks-money-supply-and-interest-rates-7872013/how-central-banks-use-macroprudential-policy-to-cool-housing-markets.md
Podcast: [Monetary Policy Explained with Fexingo: Central Banks, Money Supply, and Interest Rates](https://stenobird.com/podcast/monetary-policy-explained-with-fexingo-central-banks-money-supply-and-interest-rates-7872013)
Published: 2026-06-22T19:30:34+00:00
Episode link: https://audio.fexingo.com/business/monetary-policy-explained/episode-0067.mp3
Audio file: https://audio.fexingo.com/business/monetary-policy-explained/episode-0067.mp3
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Duration seconds: 613

## Resource

Episode 67 of Monetary Policy Explained with Fexingo dives into macroprudential policy — the toolkit central banks use to prevent asset bubbles without raising interest rates for the whole economy. Lucas and Luna focus on a concrete example: New Zealand's 2021 loan-to-value ratio restrictions and debt-to-income caps, which cooled an overheated housing market while the Reserve Bank kept its cash rate low. They explain how tools like countercyclical capital buffers, loan-to-value limits, and stress tests target systemic risk in specific sectors. The hosts also discuss the trade-offs: macroprudential measures can be blunt, hard to calibrate, and may push risk into unregulated corners. A timely episode for anyone wondering why central banks sometimes use a scalpel instead of a sledgehammer. #MacroprudentialPolicy #HousingMarket #LoanToValueRatio #DebtToIncome #SystemicRisk #FinancialStability #CentralBanking #ReserveBankOfNewZealand #CountercyclicalCapitalBuffer #AssetBubbles #HousingBubble #MonetaryPolicy #Economics #FexingoBusiness #BusinessPodcast #Podcast #LucasAndLuna #PolicyTools Keep every episode free: buymeacoffee.com/fexingo

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