From The Australian:
“The reported growth rates are backward looking, whereas we are focused on lenders’ plans for 2015,” he told The Australian on the sidelines of a Centre for International Finance and Regulation event in Sydney.
“In many cases, people are drawing down on loans where the approval may have been granted before our letter (in early December) was issued.
“We’d obviously like to see things slowing down and we’d hope to see that in the future. But what is appearing in the numbers at this point in many cases are lending decisions and volumes that were in the pipeline before we issued our letter.”
We all hope the same but I’m not sure why Mr Byers hopes anything given he has the power to make it so.
