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Australia central bank considering steps to tighten lending standards
October 1, 2014 / 10:54 PM / 3 years ago

Australia central bank considering steps to tighten lending standards

SYDNEY, Oct 2 (Reuters) - Australia’s central bank on Thursday repeated that it was considering steps to tighten lending standards, particularly for investment housing, but gave no timeline for when any steps might be taken.

“We are discussing with APRA steps that might be taken to reinforce sound lending practices, particularly for investor finance, though not necessarily limited to that,” said Reserve Bank of Australia (RBA) Assistant Governor Malcolm Edey.

“Our discussions with APRA and other agencies on these matters are ongoing, and there will be more to say about them in due course,” he told a Senate inquiry on home affordability.

The RBA last week surprised many by saying it was considering tougher rules on lending for housing investment given rapid loan growth and rising home prices. (Reporting by Wayne Cole)

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