RBA rings alarm on high debt levels
Risks to financial stability could be building as house prices and debt levels keep rising, the Reserve Bank has caution...
Sick of government inaction, the Greens are seeking to put a two year ban on banks lifting their home loan interest rates out of cycle with the Reserve Bank.
According to The Australian Financial Review, the Greens would also like to force Australia’s lenders to introduce a fair price variable interest rate mortgage product.
Greens MP Adam Bandit said the changes to legislation would prevent banks from excessively lifting mortgage rates outside the RBA and increase competition among the major and independent banks.