Banks stay cautious despite lending shift

Original article by Cliona O’Dowd
The Australian – Page: 15 : 28-Sep-20

Investors Mutual founder Anton Tagliaferro does not expect the federal government’s proposal to scrap responsible lending laws to make a "material difference" to Australia’s banks. He says banks tend to be very cautious during a recession, adding that this is likely to continue going into 2021. Tagliaferro adds that banks are likely to be focused on existing loans in the near-term, as repayment deferral periods come to an end. Meanwhile, he expects the federal Budget on 6 October to include tax cuts and measures aimed at boosting jobs.


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