Welcome to the latest issue of our Banking Sector Newsletter. This issue is lengthier than usual as we cover content for two months.
In this edition, Mortgage Business reports on RBA Governor, Phillip Lowe’s response to how housing affordability could be improved in Australia. Speaking to the House of Representitives standing committee, Phillip Lowe said that while he did not believe there was a “silver bullet”, he suggested that “flexible” supply-side measures, including zoning, urban planning and transportation links, would be key.
Meanwhile, business insider published an article informing that: US inflation reaching a 40-year high has rocked Australian markets and is pressuring the RBA to bring forward interest rate rises. Despite the RBA’s firm stance in 2021 that it would wait to raise interest rates from its pandemic record low of 0.10% until late 2023 or 2024, it has faced increased pressure to do so as early as May to ease rising costs and property prices.View PDF