Reserve Bank of Australia Passes the Baton for Tightening Home Loan Policy to Government and Regulators

Reserve Bank of Australia Passes the Baton for Tightening Home Loan Policy to Government and Regulators
An auctioneer counts down a bid during an auction of a residential property in Sydney, Australia, on May 8, 2021. Lisa Maree Williams/Getty Images
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The Reserve Bank of Australia (RBA) has clearly distanced itself from the responsibility to control residential housing prices, passing it onto the government and industry regulators.

In an online address, RBA governor Philip Lowe said that raising interest rates would address house price concerns at the expense of other areas of the economy.