In New Zealand we have the "Reserve Bank Act".
Which basically requires the reserve bank to kill the rest of the economy, whenever Auckland house prices, or wages, rise.
Originally enacted, as a circuit breaker, to cap excessive inflation in the 80's, politicians have kept it, long past its use by date, because in their limited view, what works once, briefly, will work perpetually.
It could be argued that it was somewhat successful in curbing very high inflation, on that limited occasion, though others would note that the end of very high inflation ended with the slowing of the rise in oil prices.
Now, every time the New Zealand productive economy struggles off its knees, the reserve bank delivers another knockout.
Howdaft. Puts it so much better than I can. I have republished his article here.
I have highlighted some in bold.