The AFR has some Kouky reading from Kieran Davies, chief economist at Barclays Bank Australia:
“The RBA now seems less comfortable. That said, the governor still seems sceptical of macro-prudential policy, suggesting that ‘prolonged use’ of prudential tools indicates that interest rates are too low…The Sydney housing market is the canary in the coalmine for the RBA, with Sydney house prices growing at an annualised rate of 20 per cent and investors now accounting for a record 54 per cent of new home loans written each month in NSW.”
I will believe it when I see it.
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