Reserve Bank of Australia's Kent says Australian banks are undeniably strong

<p>Christopher Kent, Reserve Bank of Australia Assistant Governor (Financial Markets) is speaking this morning in Sydney. </p><p>Full text:</p><ul><li><a href="https://ift.tt/41e2Ymg" itemprop="url">Long and Variable Monetary Policy Lags</a></li></ul><p>Headlines via Reuters:</p><ul><li> Australian banks are unquestionably strong</li><li>Banks’ capital, liquidity positions well above APRA’s regulatory requirements</li><li>Board will respond as necessary to bring inflation back to target in a reasonable time</li><li>RBA will continue to closely monitor the transmission of monetary policy</li><li>Likely to take longer than usual to see the full effect of higher interest rates on households</li><li>Higher share of fixed-rate mortgages has delayed impact of rate rises</li><li>Household savings amassed during pandemic adding to lag in monetary policy</li><li>RBA is very conscious of the challenges facing borrowers from rapid rate rises</li><li>A wide range of borrowers appear to have built up sizeable mortgage buffers</li></ul><p>---</p><p>---</p><p>APRA stands for the Australian Prudential Regulation Authority. It is the prudential regulator of the Australian financial services industry, including banks, insurance companies, superannuation funds, and other financial institutions.</p> This article was written by Eamonn Sheridan at www.forexlive.com.

from Forexlive RSS Breaking News Feed https://ift.tt/SH0XbhG