Published: December 06, 2018
With house prices posing a risk to growth, Guy Debelle says the lesson from the GFC is to keep credit flowing
The Reserve Bank has called on Australia’s biggest banks not to restrict their lending too much during the current housing downturn, warning if borrowers are scared away it will negatively affect the economy.
Guy Debelle, RBA deputy governor, says one of the key lessons policymakers learned from the global financial crisis was of the critical importance of keeping lending flowing, and “that lesson is relevant to the situation today in Australia”.
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