Page 42 - Wayne Byres News Today : Breaking News, Live Updates & Top Stories | Vimarsana

High house prices not our problem: RBA Save Share The Reserve Bank of Australia will not intervene to curtail surging house prices, with the bank’s deputy governor arguing other tools are available to governments to address equity issues in the property market. Unemployment would be higher if the bank increased record low interest rates prematurely to slow the housing market, RBA deputy governor Guy Debelle said. RBA deputy governor Guy Debelle.  Alex Ellinghausen Speaking virtually to a Perth audience on Thursday, Sydney-based Dr Debelle said Australia’s central bank recognised ...

Treasurer Josh Frydenberg has cleaned out the leadership of the corporate regulator and inserted a new guard, heralding a shift to a more business-friendly footing.

APRA has doubled down on its climate warnings, urging the business community to take stock of the 'unprecented' risks David Adams Matt Blyth/Getty Images Australia's business community faces enormous risks if it remains ignorant to the impacts of climate change, APRA says. The prudential regulator doubled down on its warnings on Wednesday as chair Wayne Byres addressed the Committee for the Economic Development of Australia. Byres championed APRA's new pilot climate vulnerability assessment, which will help Australia's big banks assess their exposure. Visit Business Insider ...

The eye-watering prices have prompted predictions that financial regulators may step in to place restrictions on lending – as happened previously when the housing market was hot. In March, ANZ economists predicted regulators could step in by the second half of the year to curb lending in a bid to stop the market from overheating. To date though, the Reserve Bank and Australian Prudential Regulation Authority have remained on the sidelines. The Apra chair, Wayne Byres, cautioned in March the financial regulator did not have a mandate to target house prices, or housing affordability, and t...

David Littleproud (Image: AAP/Mick Tsikas) In another sign of how the real world is rapidly undermining the fantasies of the climate denialists in the Morrison government, the government's own prudential regulator has directed financial institutions to elevate their recognition of climate change risks given the threats' "irreversible" and "unprecedented" nature. The Australian Prudential Regulation Authority (APRA) yesterday released a draft guidance on managing climate change risks for banks, insurers and superannuation funds on the basis that "the financial risks associated with climate cha...