New Zealand was among the leaders in macroprudential policy when the LVR restrictions were first introduced, and since 2013, borrower-based tools have gained greater acceptance internationally, including in the UK, Ireland and Canada.
Some items in the consumer price index (CPI) excluding fresh food (the core CPI), such as the prices of petroleum products and food, started to show a definite rise around the end of 2007, reflecting the surge in international commodity prices.