Original article by Vesna Poljak
The Australian Financial Review – Page: Online : 22-Nov-17
Reserve Bank of Australia governor Philip Lowe says there is still a place for interest-only mortgage lending, but he believes the recent regulatory crackdown in this area has been a success. Speaking at the Australian Business Economists dinner on 21 November, Lowe said some banks had told him that they had welcomed the crackdown, which had prompted him to ask why they had not taken the initiative themselves and done something about it. Commenting on the prospects for the Australian economy, Lowe expects growth of above three per cent in both 2018 and 2019.
RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUSINESS ECONOMISTS INCORPORATED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIA. COUNCIL OF FINANCIAL REGULATORS