SYDNEY : Australia's banking regulator said on Monday that current rules on how banks assess potential mortgage borrowers remain appropriate given that domestic and global economic conditions have deteriorated.Australian banks are currently required to assess the ability of new borrowers to meet their loa
SYDNEY : Australia's banking regulator said on Monday that current rules on how banks assess potential mortgage borrowers remain appropriate given that domestic and global economic conditions have deteriorated.
Some analysts have suggested that the Australian Prudential Regulation Authority should relax the rule as the central bank has hiked its cash rate by a whopping 325 basis points to a 10-year high of 3.35 per cent, causing demand for housing loans to plunge.
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