The Reserve Bank has responded to the Prime Minister's call for them to get on and deal with speculators in the spiralling housing market by pointing out where the Government isn't doing its own job.
Deputy Governor Grant Spencer says the bank is looking at tightening up rules around lending but also pointed out that migration, which is the Government's responsibility, is part of the problem.
Meanwhile, don't hold your breath for an instant reaction from the bank.
BNZ Chief Economist Tony Alexander joined Mark Sainsbury, filling in for Paul Henry.
