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Interest rates not the right ‘tool’ to address runaway house prices, Reserve Bank says – ABC News
The RBA says the rebound in economic activity has been remarkable, but wages growth is a long way off and it is up to others to cool the housing boom that low interest…
The Reserve Bank has said property price rises can exacerbate inequality, and it is “certainly an issue” that needs to be considered at the moment.
Key points:
- The Reserve Bank says it is putting a “high priority” on full employment
- But it says monetary policy is not the right tool to address runaway house prices
- Economic activity has rebounded strongly, but wages growth remains abysmal
But monetary policy is not the appropriate tool to address the problem, because it is designed to encourage employment…
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