Rising mortgage rates do not demand policy response, says RBA’s Stevens
Recent increases in mortgage rates have reversed some of the central bank’s easing
Mortgages rates are rising in Australia, offsetting some of the Reserve Bank of Australia's (RBA) efforts to ease policy, but in a speech today (November 5) governor Glenn Stevens said the central bank does not need to take action at present.
Addressing the 2015 Economic and Social Outlook Conference in Melbourne, Stevens pointed to a reversal of around half of this year's decline in floating mortgage rates. The overall impact on the economy is worth around a 12 basis point hike in the policy
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