Business
Australian business has taken only $26bn of $150bn in cheap credit from Reserve Bank – The Guardian
Bank’s assistant governor says reason for low take-up is borrowers have had access to ample sources of credit
Australian businesses have taken up just $26bn of $150bn in cheap credit offered by the Reserve Bank, in a sign lending could and should play a bigger role in stimulating the economy.
In a speech on Monday the RBA assistant governor, Christopher Kent, explained banks have not taken up the three-year funding facility on behalf of business borrowers because of access to even cheaper private credit, and predicted take-up will improve before the 30 September deadline.
Earlier in July the Morrison …
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