Australia's banks escape the heat as economic growth slows, Deloitte says
Australia’s banks made a “Houdini-like” escape from revelations about their questionable lending practices as policymakers “opted to sweep some things under the carpet” for short-term economic gain, a new report by Deloitte Access Economics says.
The September Business Outlook report, released on Monday, said the housing bubble and the aftermath of the banking royal commission had been expected to put credit growth “in the naughty corner” for an extended period.
“But the short term costs to economic growth of reforming banking spooked policymakers, who’ve opted to sweep some things under the carpet and to throw stimulus at housing prices,” the report said.
Read more: https://www.theguardian.com/australia-news/2019/oct/14/australias-banks-escape-the-heat-as-economic-growth-slows-deloitte-says
The September Business Outlook report, released on Monday, said the housing bubble and the aftermath of the banking royal commission had been expected to put credit growth “in the naughty corner” for an extended period.
“But the short term costs to economic growth of reforming banking spooked policymakers, who’ve opted to sweep some things under the carpet and to throw stimulus at housing prices,” the report said.
Read more: https://www.theguardian.com/australia-news/2019/oct/14/australias-banks-escape-the-heat-as-economic-growth-slows-deloitte-says
Comments
Post a Comment